BML Revises Foreign Transaction Limits on BML Credit Cards

Bank of Maldives first announced changes to its card transaction limits for foreign transactions on September 16, 2020. This was a result of then increased pressure on US Dollar liquidity. BML had expressed a serious concern on US Dollar outflow and based on the need to prioritize the available dollars for essential imports, the foreign transactions were set to new limits.  
 
In the time that has passed, BML was closely monitoring the situation, assessing the recovery and progress. BML is pleased to announce that as of now, the situation has turned back to favorable again. Therefore, foreign transaction limits on BML Credit Cards have now been increased.  
 
From today onwards, a limit of USD 500 per card will be applicable on all BML Credit Cards for use in foreign transactions. This limit can be utilized for a 30-day repeating cycle.  
 
Henceforth, the existing restriction which was set to USD 250 in last September will no longer be applicable for credit cards however, it is still in place for foreign transactions done via debit cards that are linked to MVR accounts.  
 
Customers with BML Debit Cards linked to Dollar accounts can continue to use up to the current daily limit of USD 3000. Those who are living abroad, have the limit set to USD 750 per month, per card.  
 
Should customers have a medical or educational payment pending, BML will support the transaction to be made with the cards by authorizing the transactions. Approvals will be given based on the supporting documents that are submitted via Internet Banking. 
 
Upon further consideration, BML will continue to assess the situation and bring changes of mutual benefit in the times to come.