Bank of Maldives (BML) on Thursday announced positive changes to debit card withdrawal limits and money transfer from MVR accounts, in a move to support Maldivians living abroad during the ongoing COVID-19 pandemic.
The main bank of Maldives increased the withdrawal limit for BML debit cards from USD 400 to USD 1000 daily, with a reduced fee of MVR 15 charged by the card networks. Customers can also use BML debit cards at POS terminals overseas up to USD 600 daily.
Moreover, BML announced that customers can now make international transfers via MVR accounts up to USD 500 per month without local bank charges, although foreign bank charges still apply. Customers using International Money Transfer through BML MobilePay can also make transfers up to USD 500 monthly from their digital MVR wallets.
Both services are available for BML customers that are registered with the Maldivian embassies in their respective countries, as per the guidelines set by the Ministry of Foreign Affairs.
BML added that the new changes will be in place until the end of May and advised customers to check the bank's website for details on banking services during the lockdown period.