Yosef Taieb Calls for Freeze on Digital Bank-Mail Proposal

MK Rabbi Yosef Taieb has asked Bank of Israel Governor Amir Yaron and Banking Supervisor Daniel Hahiashvili to freeze a proposal allowing banks to switch customers from paper correspondence to digital notices without their explicit consent. His request, disclosed on November 15, seeks renewed consideration by the Knesset Economy Committee. Taieb asked them to “immediately freeze the consultation process.” He said Haredi households, older customers and people less accustomed to online services could miss notices about charges, overdrafts and other important account information. Previous use of a banking website or application, he argued, does not necessarily mean a customer can follow important digital correspondence. He also requested an urgent discussion once the new committee is established. The Bank of Israel’s November 4 announcement said roughly 92% of banking transactions already take place digitally. Its proposed safeguards exclude customers aged 70 and over, non-digital customers who prefer postal notices, and those found not to follow digital correspondence. Customers would retain the right to choose their delivery method. A customer switched by a bank who leaves digital correspondence unread for six months would receive a warning; another six months without reading would restore paper delivery. In a November 13 response to five other lawmakers, Hahiashvili extended public comments until November 30 and said the directive would not take effect before another Economy Committee discussion.