Bank of Maldives (BML), the leading financial institution in Maldives announced that starting from November 8 customers will be receiving only digital receipts for ATM withdrawals. Although customers will not receive a paper receipt for withdrawals, for other services such as deposits, transfers and payments made through ATM, a paper receipt will be received.
Using digital receipts only for withdrawals is part of the banks initiative to go paperless. The reduction in the number of receipts printed on paper can eventually lead to lower usage of paper and reduced waste production. According to BML, even now a lot of customers use the mobile app to check details of the transactions made. The customers even receive SMS alerts of transaction on their mobile phones. The digital receipt will make things easier for online banking customers. For customers who are currently not registered for SMS alerts, it can be done easily through any of the banks ATMs.
Bank of Maldives also revealed that now every 9 out of 10 transactions are made online. Due to this waiting queue at customer service counters have become greatly reduced.
In the beginning of 2017, BML introduced specialised changes to the online banking aimed at personal banking customers. Due to the increased security and usability, the changes were well received by the public.