Portal Launched to Increase Foreign Transaction Limits for Maldivian Students Abroad
The Bank of Maldives (BML) has launched a dedicated portal aimed at easing financial transactions for Maldivian students studying abroad by increasing their monthly foreign transaction limit from USD 750 to USD 1200.
Students can now login to our new Student Portal to request for the increase in their monthly foreign transaction limit.
Submit request:https://t.co/Uyiye5CKyA pic.twitter.com/xoGm5586nt— Bank of Maldives (@bankofmaldives) November 1, 2024advertisement
In a statement, BML announced that students would need to provide their passport, student visa, and university enrolment letter to verify their status and become eligible for the higher transaction limit.
“The increased limit will be processed within one working day,” BML stated. “Students can track their request through the Student Portal, and once processed, they will also receive notifications via the Mobile App.”
Once registration is complete, the enhanced limit will apply to the debit card selected by the student via the portal. However, this increase will be restricted to spending in the country where the student resides. Additionally, within the USD 1200 limit, students will have a sub-limit of USD 250 for other foreign transactions.
