The Bank of Maldives (BML) on Thursday, 16 April 2020 has announced a few notable changes to support Maldivians living overseas.
BML's decisions were to provide relief and support for overseas Maldivians amid the global COVID-19 pandemic.
According to the national bank, customers using BML debit cards at ATMs overseas will be able to withdraw the equivalent of USD1000 daily.
This is an increase from the currently daily limit of USD400, and a reduced fee of MVR15 as charged by the card networks.
Moreover, in addition to the withdrawal limit increase, customers can continue to USD BML debit cards at POS terminals overseas up to USD600 daily.
BML further announced in their latest press statement, customers can use their Maldivian Rufiyaa accounts to make international transfers up to USD500 per month with the exclusion of local bank charges (however, foreign bank charges will apply).
Customers using International Money Transfer through BML MobilePay will be able to send USD500 monthly using digital MVR wallets.
BML noted both services will be applicable for customers registered with Maldivian embassies overseas and in line with the guidance set out by Ministry of Foreign Affairs.
Furthermore, BML confirmed the changes will be in place initially until end of May and advised the bank's customers to check its website for details on availability of banking services during the lockdown implemented by Maldives government.
