MIB’s POS machines can now be used for quick cash deposits and withdrawals

Maldives Islamic Bank (MIB) has launched FaisaPOSCash, a new service which allows customers to make quick cash deposits and withdrawals with POS machines.

The bank said the service is available from all partner shops across Maldives.

The maximum daily deposit limit has been set at MVR 50,000 and the maximum daily withdrawal limit is MVR 5,000.

“With this service, customers in any island in the Maldives can deposit and withdraw money from their MIB account from MIB POS merchant shops,” announced the bank.

MIB said that a MVR 10 fee will be charged for withdrawals, but no fee will be charged for deposits.

MIB is working on expanding its FaisaPOSCash service across Maldives, and has asked interested parties across Maldives to email the bank.