Bank of Maldives (BML) has firmly denied rumours that it has quietly raised BML e-commerce fees on online transactions. Specifically, the bank confirmed on Tuesday, April 21, that it has not introduced any new charges beyond those already publicly announced.
Addressing the Rumours Head-On
A wave of claims on social media recently alleged that BML had added extra charges on online debit card transactions across various e-commerce platforms. Consequently, the bank moved quickly to set the record straight.
BML CEO Mohamed Saeed addressed the allegations directly. He confirmed that no new fees have taken effect since July 1 last year. On that date, the bank introduced a 30 percent fee on e-commerce transactions made with MVR debit cards on six specific platforms: Temu, Shein, Alibaba, AliExpress, Lazada, and eBay.
No Hidden Charges Elsewhere
Saeed dismissed claims that the bank had discreetly raised fees across other sectors. Specifically, he rejected suggestions of any new charges on healthcare, education, transport, or other e-commerce merchants. Therefore, customers transacting with providers outside the six named platforms face no additional costs from BML on that front.
Furthermore, Saeed explained the source of some of the confusion. Foreign transactions may attract a cross-border fee of up to 30 percent. However, this fee forms part of the bank’s published schedule of charges. In addition, it reflects standard global banking practice, not a new policy.
A Warning About Misinformation
The CEO also warned of the broader risks such rumours carry. He noted that misinformation about BML e-commerce fees could damage the bank’s credibility and pose risks to overall financial stability.
Moreover, BML has urged customers to disregard unverified claims circulating online. Instead, the bank advised account holders to rely on its official channels for accurate information on charges and policies.
Why the Clarification Matters
Trust in banking communications carries real weight in a small, import-heavy economy. Moreover, Maldivian consumers rely on cross-border e-commerce for a growing share of everyday purchases, from fashion to electronics. Therefore, any perception of hidden charges can shift consumer behaviour quickly and unfairly.
Furthermore, the timing of the clarification matters. Social media has become a powerful amplifier of unverified financial claims, and rumours spread faster than corrections. As a result. BML’s swift public response reflects a broader need for clear, well-timed communication from financial institutions.
Looking Ahead
The message from BML is straightforward. The BML e-commerce fees structure has not changed. Furthermore, no fresh charges have landed on cardholders since the July 2025 announcement. Customers who want certainty on what they pay should check the bank’s official schedule of charges directly.
BML’s clarification aims to restore calm and reinforce trust in an area where speculation can cause real harm.