Bank of Maldives on Wednesday introduced a new service that will allow customers to receive cash through POS machines used in shops and restaurants.
BML Cashback service provides customers with the option of 15% of the total bill in cash for any product or service paid using BML debit cards. The service is free of charge and the only amount that will be deducted from the customer’s bank account will be the price of the business transaction and the amount taken as Cashback.
“For example if a customer pays for a business transaction worth MVR 1,000 using a BML debit card and requests 15% of the transaction – which amounts to MVR 150 as Cashback, total MVR 1,150 will be deducted from the customer’s account and the customer will receive MVR 150 along with the products,” announced the bank in a statement.
Speaking regarding the new service, BML Retail Banking Director Mohamed Shareef said that the main purpose of introducing Cashback service was arranging for small amounts of cash to be conveniently made available to customers as they do business.
Currently, the BML Cashback service is only available at Agora, Lecute, Redwave, Free Guys, Guys 2000, Lecute Electronics, Smart Phones, Smart Electronics and Sony Sports.
BML said that they were working on increasing the number of businesses the service will be available from.