Bank of Maldives digital banking review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Bank of Maldives digital banking suits people in the Maldives who want an easy-access account with on-demand withdrawals rather than a high rate. Interest is a variable 1.5%, against a site median of 3%, and the account opens from a MVR 200 minimum deposit.
Key facts
- Best for
- Easy-access everyday savings in the Maldives with on-demand withdrawals, not a competitive rate.
- Headline rate
- 1.5%↗
- Rate type
- Variable↗
- Minimum deposit
- MVR 200↗
- Access terms
- Withdraw on demand; cheque book facility; MVR or USD account↗
- Account kind
- Easy access↗
- Legal entity
- Bank of Maldives Plc Ltd↗
- Headquarters
- Maldives↗
- Founded
- 1982↗
- Support channels
- Phone, Chat, Help-centre↗
- Official website
- bankofmaldives.com.mv
Debit cards
Credit cards
Loans
- Lender type
- Direct lender↗
Facts checked September 26, 2026, 8 sources
Apps and profiles
- Elsewhere
- WikidataWikipediaXfacebook.com
Pros and cons
Pros
- An easy-access account, per easy access, with withdraw on demand, a cheque book facility and the choice of an MVR or USD account.
- Digital banking covers fund transfers, bill payments, loan and credit card repayment, international money transfer and a swipe digital wallet, per 24/7 digital banking, Fund transfers and Bill payments.
- A debit card on visa, with $10 in free ATM withdrawals and virtual card and multi-currency features listed, per multi currency, virtual card and travel.
Cons
- A variable 1.5% sits below the site median of 3% and leaves the account at 360 of 488 brands on headline rate.
- The MVR 200 minimum deposit stands well above the €0.88 median minimum deposit on the site.
- Rewards on the card are none, so spending earns nothing back.
Who it suits
- People in the Maldives who need an easy-access account with withdraw on demand and a cheque book facility.
- Customers who keep money in rufiyaa or US dollars and want transfers, bill payments and a digital wallet in one place, per 24/7 digital banking, Fund transfers and Bill payments.
- Savers who can start with a MVR 200 minimum deposit and are not shopping on rate.
Who should look elsewhere
- Wise, paying 3.29%, for anyone whose priority is the interest earned rather than local access.
- bunq, paying 3.01%, for savers who want a much higher return on easy-access money.
- Finteres, whose headline rate runs 0% to 36%, for savers comparing a different rate model.
How Bank of Maldives digital banking compares
9.3 vs 8.0
9.3 vs 9.4
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9.3 vs 8.5
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9.3 vs 9.0
9.3 vs 9.0- 9.3 vs 8.0
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9.3 vs 8.6
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9.3 vs 8.9- 9.3 vs 8.9
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9.3 vs 8.5
9.3 vs 8.4- 9.3 vs 8.0
9.3 vs 9.0
Where Bank of Maldives digital banking is available
- Available
- Maldives
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What interest does the account pay?+
The account pays a variable 1.5%, so the figure can move if the bank changes its pricing. The median headline rate across the site is 3%, and on that measure the account sits at 360 of 488 brands.
How much do I need to open the account?+
The minimum deposit is MVR 200, above the site median of €0.88 for minimum deposits. The account kind is easy access, so it is built for regular access rather than a fixed term, and the balance can be taken out on demand.
Can I get at my money quickly?+
The account kind is easy access and the access terms allow withdraw on demand, with a cheque book facility, so savings stay reachable. The balance can be held in an MVR or USD account, which helps anyone who keeps money in both currencies.
What card comes with the account?+
The card type is debit and it runs on visa, so it works across the usual international terminals. Withdrawals include $10 in free ATM withdrawals, and the features listed include a virtual card, multi-currency use and travel, per multi currency, virtual card and travel.
Can I manage the account from an app?+
Digital banking runs around the clock and covers fund transfers, bill payments, loan and credit card repayment, international money transfer and a swipe digital wallet, per 24/7 digital banking, Fund transfers and Bill payments. Support is available as well, on phone, chat and help centre.
Who is the account for?+
It suits people in the Maldives who bank in rufiyaa or US dollars and want a straightforward home for everyday savings, given the MVR 200 minimum deposit and a variable 1.5%. Anyone chasing a higher yield should look at Wise or bunq instead.
How does the rate compare with the alternatives?+
On the headline rate this is the lowest of the set: bunq pays 3.01%, Wise pays 3.29% and Finteres runs 0% to 36%, against 1.5% here. What you give up in rate, you gain in everyday access in the Maldives.
Who runs the account?+
The account is run by Bank of Maldives Plc Ltd, headquartered in Maldives and founded in 1982. It lends directly as well as taking deposits, per direct lender, so savings and borrowing sit with the same institution.
Sources
- atmfeesaver.com/cash-currency-exchange-atms-in-maldives checked September 26, 2026
Backs: Free ATM withdrawals
“ATM cash withdrawal overseas is limited to USD 125 per month for debit cards with a USD 10 fee per cash withdrawal overseas”
- en.wikipedia.org/wiki/Bank_of_Maldives checked September 26, 2026
Backs: Founded, Headquarters, Lender type
“Founded 1982; 44 years ago (1982) Malé, Maldives”
- mbr.mv/public/13693 checked September 26, 2026
Backs: Perks, Rewards type
“depositing and withdrawing cash, transferring funds, making loan and credit card repayments, paying for goods and services, sending money overseas”
- bankofmaldives.com.mv checked September 26, 2026
Backs: Legal entity
“Bank of Maldives Plc Ltd”
- bankofmaldives.com.mv/articles/788/bank-of-maldives-incre... checked September 26, 2026
Backs: Features, Card network
“expanded its digital ecosystem with features such as online account opening, instant card issuance, wallet-to-wallet transfers, NFC-enabled tap to pay, and 24/7 online banking support”
- bankofmaldives.com.mv/customer-service checked September 26, 2026
Backs: Support channels
“customer service team is available 24 hours, 7 days a week to assist customers. Aaya is an intelligent chatbot available 24-hours through their website, Facebook Messenger, Viber and WhatsApp”
- bankofmaldives.com.mv/personal/cards/debit-cards checked September 26, 2026
Backs: Card type
“Debit cards available”
- bankofmaldives.com.mv/personal/personal-accounts/savings-... checked September 26, 2026
Backs: Access terms, Account kind, Headline rate, Minimum deposit, Rate type
“Deposit or withdraw your money whenever you want ... Cheque book facility available ... Available in a choice of MVR or USD Accounts”
Compiled from 8 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Term, Deposit protection.
Related by the facts
Bank of Maldives digital banking
Easy-access everyday savings in the Maldives with on-demand withdrawals, not a competitive rate.