The Bank of Maldives has allowed free cash withdrawals at its Cash Agents.
Effective Tuesday, the country’s national bank revealed that customer may now withdraw up to MVR 2,000 on a daily basis, at all Cash Agents through their BML Debit Cards without having to pay the MVR 10 fee per transaction, which was previously taken.
The bank further revealed that 40 Cash Agents also offer cash deposit services currently and credit card as well as loan repayments at no additional charges, alongside the free cash withdrawal service.
Managing Director and CEO of BML, Tim Sawyer revealed that the fee was withdrawn as part of the series of measures being implemented to offer “better value” for BML customers.
Similar to our ATMs, customers across the country can now withdraw, deposit and make payments without any fees at our agents. By strengthening our Cash Agent network, we have also eliminated the need for our customers to travel to the nearest branch or ATM and instead, they have become a convenient means of accessing basic banking on islands”Tim Sawyer, BML’s MD and CEO.
Customers may contact the bank’s Public Relations Department through 3015315 for further information and inquiries.
Introduced in 2014, Cash Agents of BML are a part of their financial inclusion strategy to allow easy access for customers, to basic banking services at islands without a physical bank presence.
There are over 200 Cash Agents providing cash withdrawal services and over 40 agents providing cash deposits as well as payment services, free of charge, currently.
