The Bank of Israel grants Neema an official Bank Code

“A “New Bank” in Israel: The Bank of Israel Announces a Payments Revolution

The Bank of Israel has granted the fintech company Neema a “”bank code”” (number 21). This allows Neema to connect directly to Israel’s payment systems, and traditional banks will now recognize Neema accounts as legitimate bank accounts for independent and direct money transfers, without needing to go through the company itself or a central operational account.

As part of the Bank of Israel’s goal to expand participation in the formal financial system, the central bank announced on Tuesday that it had granted Neema, an Israeli fintech company, a unique identification code (“”bank code””) — number 21.

This means Neema will be connected directly to Israel’s national payment systems, and traditional banks will recognize Neema accounts as fully legitimate — enabling real-time, independent fund transfers between traditional bank accounts and Neema’s digital accounts.

Until now, Neema users could only transfer money directly between Neema accounts, or between Neema and other bank accounts or digital wallets — domestically and internationally. However, transfers from an Israeli bank account to a Neema digital account were indirect and slower. With the bank identification code, Neema can now participate in the national payment system with real-time settlement, enabling users to see incoming payments instantly in their Neema account at the moment of transaction — even surpassing the capabilities of Israel’s RTGS system (ZAHAV).

Oded Salomy, Head of the Payments and Clearing Department at the Bank of Israel, said:
“The Bank of Israel continues to promote fintech companies’ access to Israel’s payment systems. We are seeing growing interest from fintechs in participating in these systems. Assigning an identification code is a major milestone in this process. Especially in complex times for the State of Israel, maintaining process continuity to strengthen and develop advanced payments infrastructure is essential — including by bringing in non-bank players. These new entities will enhance financial stability by promoting competition, reducing market concentration, creating innovative payment solutions, streamlining services, and lowering costs for Israeli consumers and businesses.”

Moshe Kimchi, CEO of Neema, said:
“The Bank of Israel’s decision to grant Neema a bank identification code is a vital bridge for doing business and transferring funds between innovative digital accounts and traditional banking. This is a very significant step for the Israeli consumer — one that brings Israel’s payment systems in line with those of advanced countries. Neema is proud to be at the forefront of providing smart, direct, simple, and affordable financial services to everyone.”