Bank of Maldives has announced an increase in the monthly foreign transaction limit for its debit cards to USD 500 per month, effective 1 July 2025.
Along with this increase, the Bank has also introduced changes to control the misuse of debit cards, including the use of personal debit cards for business purposes and handing over debit cards to third parties to withdraw cash overseas.
It said that with the increase in the monthly foreign transaction limit to USD 500 for payment of goods and services, ATM cash withdrawal overseas will be USD 125 per month for debit cards, and the fee for cash withdrawal overseas will be USD 10.
The Bank said that the changes announced today will support essential payments for goods and services on MVR debit cards for customers.
It added that going forward, the monthly foreign transaction limits will be reset on the 1st of every month.
