The Bank of Maldives (BML) has announced an increase in the monthly foreign transaction limit for MVR debit cards, raising it to USD 500 per month effective July 1, 2025.

Since September 2020, customers had been restricted to a USD 250 monthly limit on foreign transactions, a measure introduced to manage pressure on US dollar liquidity during the Covid-19 pandemic.

In its statement issued Monday, the bank said that while the new transaction limit will help support essential payments for goods and services, ATM cash withdrawals overseas will be reduced to USD 125 per month, with a USD 10 withdrawal fee applied. The measure is intended to prevent misuse of personal debit cards for business purposes and to curb third-party overseas withdrawals, where dollars are later resold at higher rates within the Maldives.

In addition, BML will introduce a 30 per cent transaction fee on purchases made through e-commerce platforms including Temu, Shein, Alibaba, Lazada, and eBay when using MVR debit cards. The bank clarified that the surcharge will not apply to other online transactions, such as international hotel bookings, flight tickets, or subscription services, and will not apply to debit cards linked to USD accounts or to credit cards.

The bank further announced that monthly foreign transaction limits will now reset on the first day of each month, instead of the current reset date of the 17th.

According to BML, these changes are intended to support essential foreign spending while maintaining oversight to prevent abuse of personal debit cards.