BML introduces new Online International Money Transfer service

Bank of Maldives has today launched an innovative Online International Money Transfer service that allows customers to conveniently transfer money overseas using their mobile devices.

Introduced as part of BML’s commitment to invest in technology that makes banking easier for customers, Online International Money Transfer offers customers the opportunity to send up to USD3,000 per day using BML’s MobilePay app.

According to the bank, customers can simply download the app, register and then send money to any authorised overseas cash agent, bank account or digital wallet across a wide network of participating countries – including those most frequented by Maldivians for studies, medical visits and tourism. The service is also expected to prove particularly popular with resort employees and expatriates who, up to now, have had no alternative but to visit a bank branch or other financial services provider to transfer money abroad.

Transaction costs for Online International Money Transfer are to start from USD5. The service also allows for faster processing times than conventional money transfers.

At the official launch, BML Deputy CEO & Director of Operations, Mohamed Shareef said, “Online International Money Transfer opens up a world of convenience for our customers. Now you can pay your child’s university fees or attend to a loved one’s medical costs abroad from the comfort of your home.

“The product will also hold special appeal for the thousands of expatriates who transfer money abroad. With Online International Money Transfer, we have made it both more convenient and cheaper to send money abroad.”

Bank of Maldives has a nationwide network of thirty-four branches across all twenty atolls, thirty-five Self Service Banking Centres, ninety-five ATMs, 5,000 Point of Sale merchants, 277 agents and a full suite of Digital Banking services, supporting individuals, businesses and communities all across the Maldives.