Bank of Maldives Highlights Swipe's International Account Feature, Enabling Maldivians to Receive Funds From Abroad in USD, EUR, and GBP

Bank of Maldives has highlighted the International Accounts capability now available on Swipe, its homegrown digital wallet, giving Maldivian customers the ability to open an account with a unique International Bank Account Number (IBAN) and seamlessly receive funds from bank accounts abroad for the first time.

The International Account service is available in USD, EUR, and GBP, providing customers with the flexibility to transact across multiple major currencies and engage more freely with international partners, platforms, and opportunities. Upon processing of an international transfer, funds are credited to the customer's Swipe wallet instantly or in near real time, ensuring fast and convenient access to incoming payments. Person-to-person transfers are offered free of charge, adding further value to the feature.

Opening New Doors for Freelancers, Entrepreneurs, and Businesses

Commenting on the significance of the feature, CEO and Managing Director Mohamed Shareef said, "The ability to receive international payments is a highly anticipated feature that will significantly benefit our customers, particularly freelancers, entrepreneurs, and businesses engaging with international partners. With this feature, customers can now hold a legal bank account in another country. This strengthens Swipe as a comprehensive digital payment platform while supporting economic activity and innovation across the Maldives."

Swipe's Rapid Growth Since Launch

Since its official launch earlier this year, Swipe has grown rapidly, surpassing 20,000 users and quickly establishing itself as a preferred digital payment solution among BML customers for its seamless and intuitive payment experience. The platform now supports over 3,300 merchants, who benefit from instant settlement at one of the most competitive transaction rates available in the country, underscoring Swipe's growing role as a cornerstone of the Maldives' digital payments ecosystem.