No 30% Fee for Credit Card Purchases on Shein, AliExpress and Similar Sites, Confirms BML

Bank of Maldives (BML) has announced that the newly introduced 30% transaction fee on foreign e-commerce sites will not apply to credit card transactions.

The fee, which took effect recently, only applies to purchases made using MVR-denominated debit cards on six popular global platforms: Temu, Shein, Alibaba, AliExpress, Lazada, and eBay—websites widely used by Maldivian consumers for affordable shopping options.

Credit Cards and Certain Services Exempt

BML confirmed that both MVR and USD credit cards are exempt from the 30% surcharge, as are debit and credit cards linked to USD accounts.

The transaction fee is also waived for specific services, including:

  • Airline tickets

  • Hotel bookings

  • Subscription-based services (e.g., Netflix, Spotify)

This decision ensures that essential travel and recurring service payments remain unaffected by the new policy, offering continued convenience for frequent travelers and students abroad.

Why the Fee Was Introduced

The move to impose the 30% transaction charge on selected platforms comes as part of a broader effort to control foreign currency outflows and manage dollar reserves in the face of ongoing economic pressures. E-commerce spending on sites like Shein and Temu has surged in recent years, prompting banks and regulators to look for ways to balance demand with fiscal responsibility.

Increased Dollar Spending Limit on Debit Cards

In a related announcement, BML has raised the monthly USD spending limit on debit cards from USD 250 to USD 500, effective immediately. This adjustment offers consumers greater flexibility when using debit cards for international transactions—especially for travel or essential purchases.

Previously, the post-COVID dollar cap was set at USD 250 for debit cards and USD 750 for credit cards. In February 2025, BML had also updated its policy to allow Maldivian students studying abroad to withdraw up to USD 1,200 monthly via their BML-issued debit and credit cards.

What It Means for Consumers

For many Maldivians who frequently shop online or make digital payments abroad, the update means:

  • Using credit cards avoids the 30% fee

  • Debit cards still offer access to international spending, but with limitations

  • Linked USD accounts provide a workaround for those preferring debit transactions

Consumers are encouraged to review their card settings, switch to USD-denominated accounts if necessary, and consider using credit cards for international online purchases to avoid additional charges.