Favara transfer limit increased to MVR 200,000

9 months ago

The transfer limited under Maldives Payment System Development Projects’ instant payment system ‘Favara’ has been increased MVR 200,000 effective of today. Prior to this, the transfer limit had been capped at MVR 50,000. With this change, up to MVR 200,000 can be transferred between banks via Favara. Apart from this, the Favara request limit has also been increased from MVR 5,000 to