BML Expands Digital Banking Services for Ramadan

Business

The Bank of Maldives (BML) has announced a major expansion of its digital banking services, set to launch on the first day of Ramadan. This initiative will allow customers to access all banking services online without the need to visit a branch, further enhancing convenience and accessibility.

BML customers will continue to enjoy 24/7 access to essential banking services via the bank’s digital channels, including cash deposits and withdrawals, fund transfers, loan and credit card repayments, payments for goods and services, international money transfers, and the ability to apply for new debit, credit, and prepaid cards. Additionally, customers can manage their cards online, including PIN changes, freezing, or blocking of cards, and pay Fitr Zakat digitally.

Starting from March 1, 2025, BML will introduce a range of new digital services, allowing for seamless and convenient banking from anywhere:

1. Instant Digital Onboarding for Personal and Business Customers – Individuals and businesses can open accounts instantly online, eliminating the need for branch visits.
2. Online Loan and Financing Applications – Customers can now apply online for all types of loans and financing, including home purchase, construction, and business loans.
3. Faster Inward Remittances – All incoming foreign remittances up to USD 10,000 will be credited instantly after verification.
4. Instant TT or Outward Remittances – Customers can send up to USD 5,000 through Telegraphic Transfer (TT) or International Money Transfer via BML Mobile Banking.
5. Higher ATM Limits for Businesses – Business Card withdrawal limits will be increased to MVR 200,000, reducing reliance on cheques.

Enhanced Banking Services

BML will also introduce improved service features to further enhance the customer experience:

1. Card Delivery Service – All new debit, credit, and prepaid cards will be delivered directly to customers, removing the need to visit a branch or service center. Cards can be activated and PINs changed via BML’s online banking platforms.
2. Faster Merchant Settlements – All merchant payments made via BML POS terminals and the Payment Gateway will be credited to merchant accounts within 24 hours.
3. Automated ATM Error Resolutions – In rare instances where an ATM withdrawal or deposit fails, funds will be credited back within 1 hour.
4. Dedicated Business Support – Businesses will have direct access to dedicated Relationship Managers for personalized banking support.
5. 24/7 Customer Assistance – Customers can contact BML at any time through its Contact Centre, chatbot, or live agents available on the website, WhatsApp, and Viber.

Branch Operating Hours During Ramadan

For those who require in-person services, BML branches will be open from 9:30 AM to 12:30 PM on all working days during Ramadan and the first 7 days of Shawwal. During the last 10 days of Ramadan, branches will remain closed, except on March 27 and March 29, 2025. However, all services will continue to be available digitally throughout this period.

BML’s latest digital expansion reinforces its commitment to providing modern, efficient, and accessible banking solutions to all Maldivians.