Major Relief for Students as BML Removes Overseas ATM Withdrawal Fee

The change means students can fully utilize their designated monthly foreign currency limit of USD 1,200 for living expenses and educational needs without the cross-border fee reducing the amount available to them.

Mohamed Hilmy

10 September 2026, 13:00

In welcome news for Maldivian students studying abroad and their families, Bank of Maldives (BML) will stop charging the cross-border fee on overseas ATM withdrawals made using debit cards, effective tonight.

The decision is expected to ease the financial burden on students living overseas while providing much-needed relief to families supporting their education.

The cross-border fee, also known as the Optional Issuer Fee, is charged by card-issuing banks when transactions are made in a foreign currency or outside the cardholder’s home country. Such transactions are processed through international payment networks, including Visa and Mastercard.

BML has applied the fee to eligible overseas card transactions since introducing its card services. Its removal from debit-card ATM withdrawals represents a positive step towards making the full foreign currency allowance available to students when they need it most.

Major Relief for Students as BML Removes Overseas ATM Withdrawal Fee

Leave a comment

Comments

Latest News