With growing overseas transaction demands and facilitates greater ease for international purchases, Bank of Maldives (BML) has announced an increase in the monthly foreign transaction limit for Maldivian Rufiyaa (MVR) debit cards to USD 500. This revision will take effect starting 1st July 2025 and is expected to provide greater convenience for Maldivian travelers, entrepreneurs, and individuals engaging in legitimate foreign transactions including hotel bookings, international flights, and subscription services.
This decision, announced as part of BML’s broader efforts to enhance banking services and support customers who require access to foreign currency for essential expenses, marks a practical improvement in access to global e-commerce and travel-related services, especially as the Maldives continues to see a rise in outbound travel and tourism-related purchases. The bank has reaffirmed its commitment to maintaining sustainable access to foreign currency while also ensuring responsible card usage.
In tandem with the increased limit, BML is implementing updated usage policies aimed at curbing misuse of personal debit cards, particularly in scenarios where cards are used for business transactions or entrusted to third parties for cash withdrawals abroad practices that have been on the rise and conflict with intended personal-use guidelines.
To reinforce proper usage and promote transparency, ATM cash withdrawals overseas using MVR debit cards will now be capped at USD 125 per month, with a service charge of USD 10 applied per withdrawal. These measures are introduced to maintain the integrity of personal banking services and ensure foreign currency resources are directed appropriately.
The bank has also introduced a targeted transaction fee structure for selected high-traffic e-commerce platforms that have been identified for high-volume purchases primarily linked to business use. Effective 1st July 2025, transactions on platforms such as Temu, Shein, Alibaba, AliExpress, Lazada, and eBay will incur a fee of up to 30%. This fee will only apply to transactions made using MVR debit cards and does not affect credit card holders or those using debit cards linked to USD accounts. Additionally, the transaction fee will not be applied to other foreign transactions such as bookings for overseas travel, international hotel accommodations, or online subscriptions, ensuring that tourists, students, and travelers continue to enjoy seamless access to essential services.
Importantly, the revised USD 500 monthly limit will automatically reset on the 1st of every month, streamlining the transaction tracking process for all customers.
These measured adjustments are introduced with the goal of ensuring the fair and sustainable allocation of foreign currency resources while prioritizing access to essential international services for the public. From a broader national perspective, this development supports the government’s ongoing efforts to strengthen the financial sector and facilitate economic resilience, especially in sectors such as tourism, trade, and international education.
By balancing increased access with responsible usage mechanisms, Bank of Maldives continues to play a pivotal role in supporting both individual customers and the broader economic framework of the nation.
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