- BML's Swipe now offers International Accounts with unique IBANs supporting US dollars, euros and pounds sterling.
- International transfers credit to Swipe wallets instantly or in near real time, with free person-to-person transfers.
- Swipe has over 20,000 users and 3,300 merchants since its launch earlier this year.
Bank of Maldives (BML) has highlighted the International Accounts capability available through Swipe, allowing Maldivian customers to receive payments from overseas bank accounts directly into the digital wallet.
Customers can open an International Account with a unique International Bank Account Number (IBAN). The service supports accounts in US dollars, euros and pounds sterling, providing options for customers receiving funds in different currencies.
According to BML, international transfers are credited to the customer’s Swipe wallet instantly or in near real time once processed. Person-to-person transfers are offered without a service charge.
BML CEO and Managing Director Mohamed Shareef said the capability was expected to benefit freelancers, entrepreneurs and businesses working with international clients and partners. He said it allows customers to hold a legal bank account in another country while receiving international payments through Swipe.
The bank said the service would support economic activity by making it easier for individuals and businesses in the Maldives to receive funds from abroad.
Swipe has registered more than 20,000 users since its official introduction earlier this year. BML said the platform is also used by more than 3,300 merchants, with payments settled instantly and transaction fees positioned among the more competitive rates available locally.
