Customers using BML Debit cards at ATMs overseas can now withdraw the equivalent of USD 1000 daily, which is an increase from the current daily limit of USD 400. A reduced fee of MVR15, as charged by the card networks, will be applicable for this service. In addition to withdrawing cash, customers can continue to use BML debit cards at POS terminals overseas, up to USD 600 daily.
In what will be welcome news to many, Bank of Maldives has also announced that customers can use their MVR accounts to make international transfers of up to USD 500 per month, with no local bank charges (foreign bank charges will apply). Customers using International Money Transfer through BML MobilePay will also be able to send up to USD 500 monthly using their digital MVR wallets. Both services will be available for customers registered with Maldivian embassies overseas, in line with the guidelines set out by the Ministry of Foreign Affairs.
The above measures will be in place initially until the end of May. Customers are advised to check the Bank’s website for details on availability of banking services during the lockdown period implemented by the authorities.
The Bank will continue to proactively assess and explore ways to support individuals and businesses facing challenges as a result of the pandemic.