Bank of Maldives has introduced a monthly limit of USD 3,500 per customer for US dollar withdrawals from ATMs, effective from 1 October 2026. The change adds a monthly ceiling to the bank’s existing daily withdrawal limit as BML continues to encourage greater use of digital banking and electronic payments.
The daily USD withdrawal limit remains unchanged at USD 1,600 per card. The new monthly cap applies per customer, making the distinction between the two limits important for customers planning their cash requirements. Holding multiple cards does not increase the customer’s overall monthly USD ATM withdrawal allowance.
BML said the adjustment forms part of its wider transition towards digital banking and reduced reliance on physical cash. The bank described this approach as supporting faster, safer and more convenient payments while contributing to a more efficient financial system.
The bank highlighted its significant investment in digital channels that enable customers to complete everyday banking activities without using cash. BML Mobile Banking and Internet Banking provide access to payments, transfers and account management, allowing customers to manage their finances electronically.
Card and contactless payments offer additional options for purchases at merchants in the Maldives and abroad. Customers can also send funds instantly to other accounts, supporting electronic transactions alongside the bank’s wider digital services.
These channels give customers alternatives for many routine payments, reducing the need to withdraw and carry physical currency. For businesses and individuals, the availability of account transfers and merchant payment options can also simplify transactions and support more convenient financial management.
The revised limit specifically concerns USD cash withdrawals from ATMs. Customers planning such withdrawals will need to consider both the unchanged daily allowance per card and the new monthly ceiling per customer, while assessing which of their payment needs can be met through the bank’s digital channels.
BML’s announcement reflects its continued emphasis on expanding the role of electronic banking in everyday transactions. The introduction of the monthly withdrawal cap brings cash access arrangements into that broader transition, supported by mobile, internet, card and contactless payment services.
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