Bank of Jerusalem invites you to open a Restitution account

Bank of Jerusalem invites you to open a special restitution account, where you can easily and conveniently manage these funds. The account is exempt of most bank fees, and interest accrued on foreign currency deposits in this account is tax exempt.

To open a restitution account, you would need to present a form from the paying institution, confirming that these are restitution funds for victims of the Nazi regime. Alternatively, you may present a statement signed by a lawyer, or one from the Bureau of Individual Overseas Restitution at the Ministry of Finance, confirming the source of payment.
Furthermore, you may receive the funds from a local banks which provided a statement, declaring that the funds originate from a restitution account.

What funds may be deposited to a Bank of Jerusalem restitution account?

  • Restitution payments, pensions or compensation paid to victims of the Nazi regime
  • Funds from the Assistance Fund of the Culture Commission
  • Monthly payment received from Holland
  • Funds from "Maror Funds" non-profit organization
  • Restitution payments from Italy or Hungary
  • Restitution pension from German administration
  • Compensation for property or income from property restituted by the German authorities
  • Payments to disabled war veterans of Allied Forced in World War II
  • Claimed compensation for victims of Nazi persecution
  • Funds paid to World War II forced laborers, in conjunction with the payment agreement by the Claims Conference

What other transactions can you conduct in your restitution account?

In a restitution account with Bank of Jerusalem you may conduct typical checking transactions as in any other account, and you may hold various deposits in foreign currency - with terms ranging from one week to five years - both free of any fees

The currencies you may deposit to your restitution account are: USD, CAD, AUD, NZD, EUR, GBP and CHF. The minimum amount for opening a term deposit in your account is 1,000 units of either currency.



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