Changes made to debit card limits set since Covid

Bank of Maldives (BML) has gradually increased debit card transaction limits since the reductions imposed during the Covid-19 pandemic, the bank’s spokesperson Mohamed Saeed said yesterday.

Speaking about changes introduced this year, Saeed detailed how BML has implemented a structured, tiered system to ease foreign transaction limits for customers, excluding students and Maldivians living abroad, who are subject to separate arrangements.

On September 16, 2020, BML fixed debit card limits at USD 250 per month in response to foreign currency pressures caused by the pandemic.

The cap applied as a combined limit covering point-of-sale (POS) purchases, ATM withdrawals, and e-commerce transactions, regardless of transaction type.

This limit remained in place until June 2025, although Maldivians residing overseas were given a higher limit of USD 750 per month. The restriction made it difficult for customers to book flight tickets and hotels within the USD 250 ceiling.

From July 1 this year, BML implemented its first major adjustment since 2020 by doubling the combined debit card limit to USD 500.

The POS transaction limit was increased to USD 500 . Overseas ATM withdrawals were restricted to USD 125 per month, after the bank observed increased cash withdrawals abroad by customers not travelling overseas . The e-commerce limit remained unchanged . No separate allocation was provided for flight or hotel bookings

On November 11, marking BML’s anniversary, the bank announced a further increase, raising the total combined debit card limit to USD 3,000.

As part of this change, the overseas POS transaction limit was increased to USD 1,000 . The USD 125 overseas ATM withdrawal limit remained unchanged.

The e-commerce limit continued at USD 250, unchanged since 2020.

One of the most significant changes introduced is the creation of a separate category for flight and hotel bookings, allowing transactions of up to USD 3,000, easing long-standing concerns faced by travellers.