Bank of Maldives expands banking services

The Bank of Maldives has announced that banking services such as cash deposits through cash agents and payment services are to be expanded with 100 cash agents. 

Services such as withdrawals, deposition, payment of credit cards, and loans are provided through cash agents of the bank. The bank charges no fees for this service. 

BML said that the service was a popular one and had seen the deposition of MVR 180 million by customers through 41 deposit cash agents across the nation.

The service permits customers to get banking services in their own island without having to travel to another island where an ATM or Bank of Maldives Office is established. 

The service of cash agents was introduced in 2014. Currently, the bank has 200 cash agents providing these services. MVR 2,000 can be withdrawn daily through cash agents while MVR 10,000 can be deposited daily.