Bank of Maldives (BML) has introduced an international accounts feature on its digital wallet, Swipe. The feature allows Maldivian customers to open international accounts with an International Bank Account Number and receive funds directly from overseas banks.

Customers can open accounts in US dollars, Euros, and British pounds, enabling transactions in multiple currencies. Once a transfer is completed, the funds will be credited directly to the customer’s Swipe account. Swipe will not charge a fee for person-to-person transfers made through the platform.

BML Chief Executive Officer and Managing Director Mohamed Shareef said the ability to receive international payments was a service many customers had been waiting for.

He said the feature would particularly benefit freelancers, businesses that conduct transactions with overseas parties, and other customers who receive payments from abroad.

CEO Shareef said customers would now be able to open a formal bank account in another country through Swipe, strengthening the platform as a comprehensive digital payment service and supporting economic and entrepreneurial activity across the Maldives.

Swipe was introduced earlier this year and now has more than 20,000 users. More than 3,300 businesses currently accept payments through the platform.