The Bank of Maldives (BML) has announced several updates to its foreign transaction policies, including a revised withdrawal limit of up to USD 750 for Maldivians residing overseas.

According to the bank, overseas customers can now apply for this limit through the Foreign Limit Portal by selecting their preferred MVR-denominated debit card.

Once approved, customers can use the card to withdraw cash or make purchases up to USD 750 at ATMs and POS terminals in their country of residence.

BML clarified that the change will not affect Maldivian students studying abroad.

The existing limit of USD 1,200 remains unchanged for students, including those undertaking internships.

Students may request this increased limit through the designated Student Portal.

In a separate update, BML stated that from today, customers can use four of its cards for online purchases on international platforms such as Temu, Shein, Alibaba, AliExpress, Lazada, and eBay without incurring additional fees. These cards include:

- Credit cards

- Travel card

- USD debit card

- Business debit card

This clarification comes after BML announced it would introduce a transaction fee of up to 30% for purchases made on certain foreign e-commerce websites when using MVR-denominated debit cards.

Additionally, the Visa debit card foreign transaction limit has now been increased to USD 500.

However, cash withdrawal limits from foreign ATMs remain restricted to USD 125 per month, with a USD 10 fee applied per transaction when using the Visa debit card.

The sudden changes and fee increases have sparked public concern, particularly among customers who frequently shop on foreign websites.

BML has stated that all changes have come into effect as of today.