Bank of Maldives Plc (BML) has increased fees of Dollar and Rufiyaa Accounts from January 2015 onwards.
An Official of BML has on Sunday said to Sun Online that minimum balance of MVR 200 must be kept in current and saving accounts of Rufiyaa while minimum balance of $ 50 must be kept in Dollar accounts. A minimum balance of MVR 100 and $ 10 must be kept in Maldivian Rufiyaa and Dollar accounts respectively before. “Changes brought by BML is a small and feasible amount when compared with other banks” said the Official.
He noted that MVR 5 would be charged from BML counters for each transaction of value less than MVR 10,000.00 from Rufiyaa accounts and $1 for any amount less than $ 640 from Dollar accounts. According to the Schedule of Charges and Fees publicized by BML, Current or Saving Rufiyaa accounts can be opened with MVR 200, Dollar accounts with $ 50 and Euro accounts with € 100. Official has said that a monthly Maintenance/service charge of MVR 5 from Rufiyaa accounts and $ 3 from Dollar accounts would be applied on 'Inactive Accounts’ (accounts which have experienced no customer or depositor originated activity over a period of 24 months but not exceeding five years). According to the Official, MVR 1 per leaf of cheque books of Rufiyaa Accounts and $ 0.10 for Dollar Accounts must be paid as issuance of cheque books.