How to find forgotten money in Israel with official search services

People change jobs, move house and lose track of accounts. Money can stay behind in a pension or provident fund, a life insurance policy or a bank account that nobody touches. The government runs free search services so you can check for yourself.

Har HaKesef: savings and bank accounts

Har HaKesef is the Ministry of Finance's search service for money that was left in inactive accounts. It covers long-term savings, such as pension funds, provident funds and life insurance policies, and, according to the Bank of Israel, bank accounts and deposits without activity, including accounts of people who have died.

• The search is free.
• For privacy, the bank search shows only which banks hold an inactive account or deposit in your name, not the balance. You then contact the bank.
• For savings, you contact the fund or insurer that the search names.

Har HaBituach: insurance policies

Har HaBituach, from the Capital Market, Insurance and Savings Authority, lists the insurance policies held in your name with insurance companies. It helps you find policies you forgot about and policies that may overlap.

Step by step

1. Open the official sites from the links above. Check that the address ends in gov.il.
2. Search with your own details, and for family members only where you are allowed to (for example, as an heir with the documents the bank or fund asks for).
3. Write down every institution the search names.
4. Contact each institution directly to ask what is there and what your options are.

Before you withdraw anything

Withdrawing pension or provident savings early can cost tax, and you may have other options, such as moving the money into your active fund. Ask the institution about the tax and your options first. For personal pension advice, speak to a licensed pension adviser.

Beware of paid middlemen

Some companies offer to find money for a fee or a percentage. The official searches are free, and the institutions deal with you directly.

How Woofi fits in

Woofi reminds you to run these official searches and keeps a list of what you found next to the rest of your family's accounts. Woofi does not access these services on your behalf.