Best Money Transfers in Gaza City

Currency in Palestine

ILS · Israeli new shekel is the currency most used for day-to-day transactions, alongside the US dollar and Jordanian dinar; Palestine issues no banknotes of its own

Regulator in Palestine

Palestine Monetary Authority (PMA)(opens in a new tab)

Local accounts in Palestine

Palestine has no IBAN of its own: Palestinian banks issue their own account numbers, and because settlement with Israeli banks sits behind the shekel leg, most cross-border payments route through those correspondents using SWIFT/BIC plus the beneficiary account.

Payments in Palestine

The PMA operates the domestic real-time gross settlement and clearing systems for interbank payments across the main currencies in use, with the shekel leg depending on correspondent arrangements between Palestinian banks and Israeli banks. Card payments ride domestic switching and Visa/Mastercard rails, and there is no single national instant-payment scheme that visitors can assume; because Palestine has no currency of its own and no sovereign lender of last resort, transfer capacity and pricing depend heavily on which currency leg a payment uses.

Sources: Palestine Monetary Authority · PMA: banking supervision · IBAN registry: Palestine (no IBAN entry)