BML increases deposit, withdrawal amounts

Bank of Maldives (BML) has increased deposit and withdrawal amounts for personal accounts.

With the changes, users will be able to withdraw MVR 25,000 and deposit MVR 50,000 on a daily basis. Dollar transactions are also changed; users can now withdraw US$ 1,600 and US$ 3,200

Prior to the changes, users were only able to withdraw MVR 10,000 and deposit MVR 25,000.

A service charge of MVR 75 is to be levied on any deposits made below MVR 25,000 to branches in Male’ or islands that have self-service ATMs.

Last year, alone transactions worth MVR 10 million were carried out using the bank’s 24 hour ATMs and self-service banking centers.

BML added that over this year, the bank will invest MVR 300 million as part of their ‘Aharenge Bank’ campaign.