BML Accused of Misleading Cardholders Over Foreign Transaction Limits

The Bank of Maldives (BML) is accused of misleading cardholders about foreign transaction limits on MVR-linked debit cards. In June, BML announced an increase from USD 250 to USD 500, but spokesperson Mohamed Saeed later claimed the limit remained at USD 250. Cardholders report being unable to exceed USD 250, contradicting the earlier announcement. The controversy is linked to a 30% fee BML imposed on purchases from international platforms like Temu and SHEIN, citing high dollar outflows estimated at USD 20 million per month.

The Bank of Maldives (BML) is accused of misleading cardholders about foreign transaction limits on MVR-linked debit cards. In June, BML announced an increase from USD 250 to USD 500, but spokesperson Mohamed Saeed later claimed the limit remained at USD 250. Cardholders report being unable to exceed USD 250, contradicting the earlier announcement. The controversy is linked to a 30% fee BML imposed on purchases from international platforms like Temu and SHEIN, citing high dollar outflows estimated at USD 20 million per month.

The Bank of Maldives (BML) is accused of misleading cardholders about foreign transaction limits on MVR-linked debit cards. In June, BML announced an increase from USD 250 to USD 500, but spokesperson Mohamed Saeed later claimed the limit remained at USD 250. Cardholders report being unable to exceed USD 250, contradicting the earlier announcement. The controversy is linked to a 30% fee BML imposed on purchases from international platforms like Temu and SHEIN, citing high dollar outflows estimated at USD 20 million per month.

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