Bank of Maldives (BML) on Thursday, 16 April, has confirmed a few ‘positive changes’ to support Maldivians living overseas during the global COVID-19 pandemic.
According to the national bank, customers using BML debit cards at ATMs overseas can now withdraw the equivalent of USD1,000 daily, which is an increase from the current daily limit of USD400 daily.
In addition to this, the bank reduced fee to MVR15 charged by card networks, and will be made applicable for the service.
Moreover, with an increase on daily withdrawal limit from ATMs overseas customers can continue to use their BML debit cards at POS terminals overseas up to USD600 daily.
BML also announced its customers can now use their MVR accounts to make international transfers up to USD500 per month with no local bank charges. However, foreign bank charges on such transactions will apply.
Customers using International Money Transfer via BML MobilePay will be able to send up to USD500 monthly using the digital MVR wallets.
The services from the bank will be available to customers registered with Maldivian embassies at overseas and will be in line with the guidelines set out by Ministry of Foreign Affairs.
The bank further reported the measures will be in place initially until the end of May and advised its customers to check the bank’s website for details on availability of banking services during lockdown period.