Foreign ATM withdrawal limits unchanged for Maldivians living abroad and students: BML

Bank of Maldives (BML) has clarified that despite recent changes to debit card limits, Maldivians living abroad can still withdraw USD 750 per month from foreign ATMs, as previously allowed.

On Tuesday, BML announced a new USD 125 monthly limit for foreign ATM withdrawals using local debit cards, alongside an increase in the foreign transaction limit to USD 500. A USD 10 fee now applies to each foreign ATM withdrawal.

However, the bank stated today that those living overseas can apply for the USD 750 monthly withdrawal limit through a dedicated portal on the BML website, and this policy remains unchanged.

BML also confirmed that the higher limits set for students studying abroad remain unaffected. Since February, overseas students can apply through the bank's application portal and be allowed to withdraw up to USD 1,200 monthly from ATMs.

Additionally, BML has introduced a new 30% fee on transactions made on six online shopping platforms using local currency debit cards: Temu, Shein, Alibaba, AliExpress, Lazada, and eBay. This change follows a rise in foreign transaction limits and aims to manage growing dollar outflows.