Living on dollars in Israel

Many transactions require pricey international wire fees, making transferring and converting amounts under $10,000 financially inefficient.

By RIVKAH LAMBERT ADLER
November 16, 2017 12:26
Quick and easy transfers: Joseph Sokol (left) and Meir Leff.

Quick and easy transfers: Joseph Sokol (left) and Meir Leff.. (photo credit: YITZ WOOLF)

 
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 When Joseph Sokol was a yeshiva student in Jerusalem, he was frustrated by how cramped his allotted dorm space was, so he rented an apartment nearby. He had a place to put his things, but a new problem presented itself. How could he pay rent in shekels when his income was in dollars? 

That problem inspired Sokol to create OlehPay, a streamlined and affordable way to transfer US dollars to shekels.


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