Report: Rise in Complaints on Bank Service

More Israelis are complaining about their banks. An annual report on the banking industry issued by the Bank of Israel shows that complaints about bank performance, mistakes, or service were up 30 percent in 2017 over the year before.

There were nearly 7,000 complaints in 2017, up from 5,360 in 2016. The main complaints were about mishandling of checks by bank staff, mistakes in charges, refusal by banks to open accounts for potential clients, and poor or surly service. The complaints were made formally to a hotline operated by the Bank of Israel, which is legally obligated to investigate them. According to the report, banks refunded or paid NIS 2 million to customers for complaints that were found to be justified.

Banking continued to be a lucrative career for many. According to the report, 10,800 bank workers earned NIS 360,000 (including monthly salaries and bonuses) in 2017. Of those, some 2,000 earned between NIS 600,000 and a million shekels. Some 4,250 workers earned less than NIS 12,000 a month in 2017. Altogether, 41,569 people were employed by banks in 2017, earning an average of NIS 25,000 a month.