The Bank of Maldives (BML) has reduced the limit on dollar withdrawals from ATMs abroad using Rufiyaa debit cards.
In an announcement, the national bank said the change intends 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."
BML said the ATM cash withdrawal overseas will be USD 125 per month for debit cards and the fee for cash withdrawal overseas will be USD 10.
Earlier, Rufiyaa debit cards could be used to withdraw up to USD 250 overseas. The bank has also increased the foreign transaction limits from Rufiyaa cards to USD 500.
Meanwhile, the bank has 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.
