Banks in Israel, Jordan and Sinai will exchange all major European currencies, but the most welcome currency of all is the US dollar. ATMs (automatic cash dispensers) linked into international banking networks, such as Cirrus or Plus, are widespread in Israel. You will find them in the foyers of most banks. These machines are less common in Jordan and Sinai, and found only in Amman, Petra and Sharm el-Sheikh. Some banks in Israel also have automatic currency exchange machines, which are accessible 24 hours a day. The drawback is that these machines usually charge a high transaction fee combined with a very poor rate of exchange.

Jerusalem’s banking district is centred on Zion Square, at the bottom of Ben Yehuda Street in the New City. Banks are generally open from 8:30am to 12:30pm, reopening for another hour or two from around 4pm (but not on Wednesdays). They are shut on Fridays and Saturdays. In Jordan and Sinai banking hours are similar to Israel, except that they are closed only on Fridays.

The banks often charge a considerable commission on currency exchanges; one way to avoid this is to use an official exchange office such as Change Spot . These places charge no commission. They also tend to be open much longer hours than the banks (from 9am to 9pm in some cases). Such exchange offices in Jerusalem can be found mainly on Jaffa Road and Ben Yehuda Street. There are also several small Arab exchange offices just inside Jaffa and Damascus gates in the Old City.

In Jordan, central Amman is full of small exchange offices, but there are not so many outside the capital. You can use one of the big hotels, but beware of the commission they may charge.

Traveller’s cheques can be exchanged at banks but commission is charged per cheque. Better to cash them at exchange offices, where no commission is charged at all.

Major credit cards, such as VISA, Master Card, Diners Club and American Express are widely accepted throughout Israel, Jordan and Sinai in shops, restaurants and hotels. If you have your PIN number you can draw cash from ATMs.

Israel’s national currency is the new Israeli shekel (NIS), referred to simply as the shekel. It is also the currency in the Palestinian Autonomous Territories, although there are plans to introduce a Palestinian national currency in the near future. Jordan has dinars (JD), while the currency in Sinai is the Egyptian pound (LE). These currencies are only valid in their home countries so, for example, you cannot spend excess Israeli shekels in Jordan. Exchange rates between the three tend to be very bad. This means, for example, that it is wise to use up all your shekels before leaving Israel and then to exchange dollars for dinars or pounds on arriving in Jordan or Egypt.