The local economy has been hard hit as a result of the coronavirus pandemic. As a result, there has been a significant reduction in foreign currency inflow to the country and the Bank has had to take immediate steps to ensure we can continue to support essential dollar requirements for key imports and overseas medical and education payments
The new limit will be applicable for foreign transaction on all BML debit cards linked to MVR accounts as the primary account and for all credit cards, including personal and corporate credit cards.
Note: BML debit cards include Visa and Mastercard Debits including Passport Card and Business Debit Card. American Express debit card is excluded as it is for use only in Maldives.
This is a temporary measure taken to manage within the current environment, which will be reversed when the situation allows. The change will not impact 95% of the Bank’s customers.
No, the new limit will only be applicable for foreign transactions made from BML cards including online, POS and ATM withdrawals overseas. You can continue to withdraw USD 2,000 monthly from our USD ATMs.
If the primary account for your card is a USD account, you can make payments up to USD 3,000 daily as normal. Overseas ATMs, POS and online transactions can also be made up to USD 3,000 daily.
You can withdraw up to USD 750 per month. There is no separate limit for use on POS or at ATMs and you can withdraw cash or make online or POS transactions up to the monthly limit. However, there is a daily limit of USD 400 for cash withdrawals and USD 600 for POS transactions overseas. Please note that cross border charges will be deducted for foreign transactions from this limit, as outlined in the Schedule of Charge.
Yes, you can request to increase the card limit to make payments in the following situations:
To increase the card limit, send a request with all supporting documents through Internet Banking. Select “Temporary Card Limit” from the dropdown menu for Service Type. We will process your request within 24 hours and call you once your limit has been increased
You may use your credit card up to the maximum card limit for local purchases. For foreign online transactions, however, the limit will still be USD 250. To use your card in excess of the limit, pay to your credit card in USD and send a request via Internet Banking by selecting “Temporary Card Limit” on the Service Type dropdown menu. We will process this within 24 hours and call you once the limit is temporarily increased for your transaction to be completed.
For existing customers, we will not be able to issue new debit cards or additional/supplementary credit cards to use for foreign transactions. If you do not have a debit or credit card and you are eligible for one, you can apply via Internet Banking.
Yes, you may change your primary account to link your debit card to a USD account by sending a request through Internet Banking. On your request, please indicate whether you would like this to be a temporary or a permanent change.
No, customers traveling abroad can book up to USD 500 as before from our USD booking portal.
Customer with debit cards linked to a USD account as a primary account can continue to use cards for foreign payments within the normal limit. The Bank also continues to support individuals and businesses to make overseas money transfers through TTs.
No, customers can continue to receive incoming payments (TTs) from overseas. The new limits only apples to local BML debit and credit cards used for foreign transactions.