The Bank of Maldives (BML) has increased the foreign transaction limit on its Maldivian Rufiyaa debit cards to USD 500 from next month.
In a press release, the national bank said this increase comes with lowering the ATM cash withdrawal overseas to USD 125 per month for debit cards and the fee for cash withdrawal overseas is fixed at USD 10.
BML said these changes intend "to control the misuse of debit cards, including the use of personal debit cards for business purposes and handing over debit cards to third parties to withdraw cash overseas."
Meanwhile, the bank has also introduced a 30 percent transaction fee on payments to popular shopping sites such as Temu and Shein.
The national bank also announced that the monthly foreign transaction limits will be reset from the 1st of every month.
