Government Sets Cash Limit at 10,000 NIS

According to the memorandum, cash (and check) payments to and from businesses will be limited to NIS 10,000 (about $2,500), “open” checks, in which an individual writes a check out to cash, or without a specific recipient, will no longer be honored by banks at all. Any check will have to have identifying information of both the writer and recipient.

And that’s just to start; the memorandum would have the Bank of Israel evaluate the system after a year, and if everything is working as desired, the Bank would cut the sums that could be used in cash transactions to NIS 5,000 for businesses deals,

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