Banking Ordinance Amendment (Dormant Accounts) Bill
Translated from Hebrew: הצעת חוק לתיקון פקודת הבנקאות (חשבונות ללא תנועה)
TL;DRAn amendment to the Banking Ordinance regarding dormant accounts: a ban on charging fees on payment accounts that show no activity, and new provisions for handling the accounts of deceased persons.
Translated from Hebrew
What does the bill do?
The proposal adds provisions to the Banking Ordinance on the subject of dormant accounts. A banking corporation will not be able to charge fees for managing a payment account from a dormant deposit if no payments were made in the account. In addition, the proposal sets specific provisions for accounts whose owners have died: a banking corporation will be required to invest the funds of such an account and must refrain from charging management fees if no payments were made. These provisions apply only if four months have passed since the death of the account owner and no estate administrator has been appointed.
The votes on this bill
Coalition 67 seats
Left the coalition 9 seats
Opposition 44 seats
Tap an MK for detailsChanged position between readingsOnly MKs who held a seat on the day of the vote are shown