BML eases student visa fee payments with dedicated card limit

Bank of Maldives (BML) has introduced a dedicated card limit for Maldivian students studying overseas to facilitate the payment of student visa fees.

BML spokesperson Mohamed Saeed said the bank had previously considered requests to increase card limits for visa payments on a case-by-case basis.

Under the new policy, which took effect on Wednesday, eligible students studying abroad will be granted the required card limit for visa fee payments upon application.

Saeed said the change was introduced with the support of the Maldives Monetary Authority (MMA) to simplify access to foreign currency for student visa-related expenses.

The bank said students registered on BML’s online Student Portal continue to receive a monthly debit card limit of USD 1,200.

In addition, BML allows students or their parents to make telegraphic transfers (TT) from local rufiyaa accounts to pay tuition fees and other education-related expenses directly to educational institutions.

The bank also facilitates the transfer of student stipends and living allowances from local rufiyaa accounts to students’ overseas bank accounts under its existing procedures.

BML said the measures are intended to ensure that Maldivian students studying abroad have continued access to foreign currency for education and living expenses.