Lower Limits on Debit and Credit Cards for Foreign Transactions

From $600 Per Day to $250 Per Month- A Frustrated Public, But Did BML Have a Choice?

By Maldives Times September 17, 2020 3 min read

The USD limit, which used to be USD 600 per day for POS and USD 400 per day for ATM withdrawals for Visa debit cards, has been lowered by Bank of Maldives (BML) to USD 250 per month, per card for debit and credit cards for use on foreign transactions. This is a huge change […]

BML Announces Lower Limits on Debit and Credit Cards for Foreign Transactions

By Maldives Times September 16, 2020 2 min read

As in the rest of the world, the local economy has been hard hit as a result of the coronavirus pandemic. The disruption to tourism activities and the subsequent decline in foreign exchange earnings has meant pressure on dollar liquidity has intensified. While the recent announcement by MMA to provide additional dollars to banks for […]