When buying a ticket online from El Al in Israel, the fares are quoted in USD, but the final payment screen allows you to choose whether to pay in USD or ILS. At the bottom of the page is the following:
If you choose to pay in shekels and are paying by means of a credit card that was issued in Israel, the final amount, which appears in US dollars, will be converted to shekels based on the high exchange rate for bank transfers and checks on the day of payment.
The equivalent notice when viewing the site in Hebrew is:
במידה שבחרתם תשלום בש"ח והנכם משלמים באמצעות כרטיס אשראי שהונפק בישראל המחיר הסופי, שמופיע בדולר US, יומר לשקלים ע"פ שער העברות והמחאות גבוה, הידוע ביום התשלום
What is the "high exchange rate for bank transfers and checks" that is used for the conversion? In particular, how does it compare, either to the mid-market rate or to the rate that would typically be charged by a bank in Israel if the charge were processed in USD?
Furthermore, the notice leaves open the question of what happens if you choose to pay in shekels with a credit card issued outside of Israel (though I realize that would be a silly thing to do).