BML brings changes to incoming credit to USD accounts

Bank of Maldives (BML) has brought changes to its incoming credit process to USD accounts, from online overseas money transfer platforms.

In a statement, BML said that it will not allow incoming credit to its USD accounts through Visa Direct, Mastercard Send or other similar platforms, from Wednesday.

Following this, withdrawals from foreign digital wallets or any peer-to-peer transfers through these platforms will only be allowed into MVR accounts, said the national bank.

Visa Direct and such platforms are often used by individuals to receive funds or to make withdrawals from online trading platforms and digital wallets to USD accounts

Further noting that “withdrawals can continue to be made” despite the change, the bank said that this will only be to MVR accounts.

Bank of Maldives (BML) has brought changes to its incoming credit process to USD accounts, from online overseas money transfer platforms.

In a statement, BML said that it will not allow incoming credit to its USD accounts through Visa Direct, Mastercard Send or other similar platforms, from Wednesday.

Following this, withdrawals from foreign digital wallets or any peer-to-peer transfers through these platforms will only be allowed into MVR accounts, said the national bank.

Visa Direct and such platforms are often used by individuals to receive funds or to make withdrawals from online trading platforms and digital wallets to USD accounts

Further noting that “withdrawals can continue to be made” despite the change, the bank said that this will only be to MVR accounts.

BML brings changes to incoming credit to USD accounts

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BML brings changes to incoming credit to USD accounts

Comments

BML sets up branch in Gan of Laamu Atoll

BML Board of Directors passes to disburse MVR 20 per share

BML launches 'Cashless Ride'

BML opens new Contact Centre in Addu

BML inaugurates USD-dedicated ATM center

On This Day

State import, export revenue plummets by MVR 86m in January

China's EXIM Bank eager to boost positive collaborations with Maldives

First batch of the 500,000 cans of tuna Maldives is donating to Turkey dispatched

Six students from Belarus to return this week

Maldives condemns military coup d’état in Myanmar

Mariyam Shafeeq appointed Managing Director of Aasandha

General Mansoor has been apprehended