Bank of Maldives has introduced a dedicated card limit for Maldivian students studying overseas to facilitate the payment of student visa fees, further strengthening access to essential financial services for students pursuing education abroad. The new policy, which took effect on Wednesday, enables eligible students to receive the required card limit for visa fee payments upon application, offering a more streamlined and predictable process for meeting important immigration-related expenses.
According to Bank of Maldives, the change was introduced with the support of the Maldives Monetary Authority to simplify access to foreign currency for student visa-related payments. The development reflects a practical response to the financial needs of students and families navigating international education requirements, particularly at a time when timely visa processing and related payments remain a critical part of securing academic opportunities overseas. Previously, requests to increase card limits for visa payments had been considered by the bank on a case-by-case basis.
The bank stated that students registered on BML’s online Student Portal will continue to receive a monthly debit card limit of USD 1,200, providing regular support for day-to-day expenses while studying abroad. This existing facility remains an important part of the bank’s wider support framework for Maldivian students, helping them manage living costs and routine transactions in their countries of study with greater convenience and stability.
In addition to the monthly debit card limit, Bank of Maldives also allows students or their parents to make telegraphic transfers from local rufiyaa accounts to educational institutions for the payment of tuition fees and other education-related expenses. The bank further facilitates the transfer of student stipends and living allowances from local rufiyaa accounts to students’ overseas bank accounts under its established procedures, making it easier for families in the Maldives to support their children’s education in a secure and structured manner.
Bank of Maldives said these measures are aimed at ensuring that Maldivian students studying abroad continue to have reliable access to foreign currency for both education and living expenses. The introduction of a dedicated card limit for visa fee payments is expected to provide added reassurance to students and parents, while also supporting the broader national objective of enabling Maldivians to access international education opportunities with greater ease and financial confidence.
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