Hora’at keva is the term used for payments that are deducted straight from your bank account automatically.
For example, your health insurance/kupat cholim. Your phone bill. Your internet payment. Your electric bill. Your water bill. I think you get the idea. Pretty much the way things work here is that you need a credit card or bank account to do anything. Hora’at keva means that you give the company permission to deduct whatever you owe them straight from your bank account. Bank accounts also work differently here, but that is an entire separate post (probably the next one or so).
When you sign up for hora’at keva, it is automatically deducted from your bank account or charged to your credit card (again, more on bank accounts and credit cards later). For example, take my kupat cholim. I have the supplemental insurance and that’s taken out as hora’at keva. So the kupah takes out the 25-ish shekels every month. Then if you go to the doctor and they charge you (say for the visit or x-rays or something) they ask you, “Hora’at keva?” which would mean they take the fee straight from your bank account, or you can pay in cash.
When you sign up for hora’at keva, it seems very sketchy to Americans [sketchy to any non-Israeli! – Ashley]. You give your bank account info to a seemingly random person and sign a paper saying they can take money automatically. You have automatic payments in the US, but it seems so much less sketchy there. The trick to hora’at keva is remembering how much is automatically taken out of your bank account each month so you remember how much you have to have in there so you don’t go into overdraft.
Now, tashlumim. Tashlumim are installments. You can pay for pretty much everything in tashlumim. I went to the supermarket and with a bill of about 500 shekels, which is approximately 135 American dollars, was asked if I want to pay in tashlumim. So I would be paying for the groceries that I used three months down the road. Some things make sense—say, a car, where you don’t have the money all at once. Maybe furniture. A house. But not groceries. But that’s the way things go here. Tashlumim get turned into hora’at keva because they get deducted automatically for a certain amount of time. Personally I would not recommend doing these for things like groceries, but it’s really your individual call.
Next up: Banks!