Bank of Maldives Denies New Fees Amid Social Media Transaction Rumours

The Bank of Maldives (BML) has dismissed claims that it is imposing new fees on online debit card transactions, clarifying that charges remain limited to a specific list of designated e-commerce platforms. The bank's statement comes in response to viral social media rumours suggesting that additional charges were being applied to a wide array of online transactions. BML officials stressed that no new fees have been introduced for general online use and that the bank is adhering to its existing policy. BML spokesperson Mohamed Saeed confirmed that the only active e-commerce charges were implemented on 1 July last year. This policy applies a 30 per cent charge to transactions made using MVR debit cards on specific platforms, including Temu, Shein, Alibaba, AliExpress, Lazada, and eBay. Saeed specifically addressed allegations that fees had been quietly increased for essential services, including healthcare, education, and transport sectors, as well as other general e-commerce merchants. He described these claims as baseless, asserting that the bank has not expanded its fee structure since the previous year. Regarding international payments, Saeed clarified that a cross-border fee of up to 30 per cent may apply to foreign transactions. He explained that this is not a new initiative but a standard part of the bank’s existing schedule of charges, reflecting common global banking practices. The bank expressed concern over the spread of misinformation, warning that such rumours could undermine the institution's credibility and potentially pose risks to wider financial stability. BML has urged its customers to disregard unverified information circulating on social media and to rely exclusively on official announcements from the bank for accurate updates on fees and services.