BML Caps Monthly Dollar ATM Withdrawals at US$3,500 per Customer

Bank of Maldives has introduced a US$3,500 monthly limit on dollar cash withdrawals from ATMs for each customer, while retaining its existing daily limit of US$1,600 per card.

The monthly restriction took effect on 1 October, according to the bank’s announcement. The two limits use different measures: the monthly ceiling applies to the customer, while the daily ceiling applies to the card.

BML said the change formed part of its move towards digital banking and reduced reliance on physical cash. The announcement referred specifically to US-dollar withdrawals at ATMs; it did not announce a new US$3,500 ceiling on card purchases or electronic transfers.

The bank identified mobile and internet banking, card payments and contactless transactions among the channels available for customers to make payments and manage their accounts.

Two Withdrawal Limits Apply

The monthly cap is not described as a separate allowance for every card a customer holds. The bank’s announcement does not specify a change to its rufiyaa ATM withdrawal limit.

BML’s self-service banking information lists a daily rufiyaa withdrawal limit of MVR25,000. It also lists US-dollar ATMs at M. Star Cloud, Renaatus Ithaa Muiy and Velana International Airport.

The bank’s self-service centres operate around the clock. Alongside cash withdrawals, the listed services include deposits, balance enquiries, transfers, bill payments, card and loan repayments, PIN changes and mini-statements. Availability of individual services depends on the facility.

Cash Access and Other Dollar Services

The bank provides separate channels for customer assistance and foreign-currency services. Its customer-service page lists round-the-clock support and information on currency assistance for education and medical purposes under the relevant arrangements.

Those services are distinct from withdrawing dollar notes from an ATM. The 1 October announcement concerns the amount of physical dollar cash an individual customer can withdraw through that channel each month.

BML said digital channels allow customers to make payments and manage money without visiting a branch or withdrawing cash. It did not publish an end date for the monthly ATM restriction in the announcement.