Good to know
Good to Know
- MVR is a closed currency—cannot be obtained outside the Maldives, so exchange money on arrival and withdraw MVR only as needed.
- ATM fees compound quickly; withdraw larger amounts in single transactions rather than multiple small withdrawals.
- At resort islands, you may need no cash at all if paying room charges by card, but tips require small USD or MVR notes.
- USD is the practical default for resort transactions, but MVR is essential and negotiates better prices on local islands.
- Some restaurants include a 10% service charge but still present a blank tip line—check your bill to avoid double-tipping.
- Foreign debit/credit cards trigger a standard 100 MVR (~$6.50) fee per ATM withdrawal; home banks may charge additional fees.
- Use ATMs inside bank branches when possible; ATM fraud is not uncommon—watch for skimmers on standalone units.
- If bringing USD, ensure bills are clean and undamaged; banks may refuse worn notes.
- Credit card machines may prompt dynamic currency conversion—decline and let your card operator handle the exchange.
Widely Accepted
- Note
- Major cards accepted at upscale properties and tourist-oriented businesses
Venue Types
- resorts
- hotels
- restaurants
- larger shops
Card Networks
- Visa
- Mastercard
- American Express
Limited Or No Acceptance
- Note
- Cash required; some guesthouses and local operators may require MVR or USD only
Venue Types
- local guesthouses
- local shops
- markets
- ferries
Cash Needs
- Resort Only Stay
- Minimal cash needed; most expenses billed to room and settled by card
- Local Island Visit
- Essential; needed for local transport, guesthouses, small cafes, markets, and tips
ATM Details
- Availability
- Approximately 150 ATMs, concentrated in Malé and Velana International Airport; most inhabited local islands now have at least one Bank of Maldives ATM
- Operating Hours
- Most ATMs open 24/7
ATM Locations
- Male
- Multiple ATMs available
- Airport
- Two ATMs at Velana International Airport—Bank of Maldives and Habib Bank
- Local Islands
- Varies; can run out of cash or experience technical issues
Fee Structure
- Home Bank Fees
- Additional charges typically apply from home bank; varies by issuer
- Recommendation
- Withdraw maximum amount per transaction to minimize total fees
- Fee Free Options
- Limited; two bank ATMs claim zero fees but accept cards only from specific countries
- Foreign Card Flat Fee Typical
- MVR 100
Standard charge for foreign cardholders
Foreign Card Fee Range
- Currency Local
- MVR
- Amount Local Low
- 30
- Amount Local High
- 100
Withdrawal Limits
- Some ATMs Allow
- MVR 8,000
- Typical Daily Limit
- MVR 10,000
- Typical Max Per Transaction
- MVR 2,000
Currency Dispensed
- MVR Only
- Most ATMs
- USD Available
- Available in Malé, Hulhumalé, Maafushi, and Velana International Airport
Card Networks Limited
- American Express
- Discover
- Union Pay
Card Networks Accepted
- Visa
- Mastercard
- Cirrus
- Plus
- Maestro
Card Networks Not Accepted
- Diners
- JCB
Dynamic Currency Conversion
- Advice
- Decline; choose to pay in MVR and let card operator handle exchange for better rates
- Availability
- Some ATMs may offer currency conversion at point of withdrawal
Tipping Norms
- Status
- Not strictly mandatory but appreciated
- Forms Accepted
- Cash (USD or small MVR notes preferred) or card where available
Contexts
- General
- 5–10% is standard where service charge not included
- Restaurants
- Service charge often included in bill (10%), but blank tip line may be presented—verify inclusion before tipping
- Local Guides
- Appreciated; small denomination bills useful
- Resort Staff
- Appreciated gesture; tips typically given in USD or MVR small denominations
Local Currency
- Code
- MVR
- Name
- Maldivian Rufiyaa
- Symbol
- Rf
- Pegged Since
- 1994
Mobile Payments
- Recommendation
- Carry physical card and backup cash
- Apple Pay Google Pay
- Available in major resorts and some shops in Malé, but not yet widespread on smaller islands
Currency Exchange
- Avoid
- Small exchange shops on local islands; airport/hotel exchanges often offer poor rates
- Recommended Provider
- Bank of Maldives at airport offers fair rates
- USD Note Quality
- Maldivian banks require USD bills to be crisp and clean; damaged notes may be refused
Banks Available
- Bank of Maldives
- State Bank of India
- Bank of Ceylon
- HSBC
Exchange Locations
- Velana International Airport (Bank of Maldives counter in Arrival Hall)
- Banks in Malé and larger inhabited islands
- Licensed currency exchange offices
Currency For Spending
- Recommendation
- USD preferred for most tourists due to versatility; supplement with MVR for local island transactions
MVR
- Advantages
- Better rates at local shops
- When To Use
- Essential on local islands; preferred for better local pricing
- Disadvantages
- Cannot be exchanged back outside Maldives; limited availability outside the country
USD
- Advantages
- Widely accepted throughout country, particularly at resorts; avoids frequent currency exchange
- When To Use
- Resorts, tourist areas, major transactions
- Disadvantages
- May receive change in MVR
Payment Recommendations
- Backup Cards
- Carry at least two payment methods (card + backup card or USD cash)
- Best Practice For Resorts
- Credit/debit card for bills; USD or MVR small notes for tips
- Dynamic Currency Conversion
- Always decline; adds 3–5% fees
- Best Practice For Local Islands
- Mix of MVR cash and card
Banking
- Accessibility
- Relatively straightforward for those with formal work arrangements and employer sponsorship. Limited options for digital nomads or those without Work Visa status.
- Bank Account Setup
- Bank accounts can be opened by presenting Work Visa and employer documentation.
Requirements
- Work Visa
- Employer documentation
- Official documents (driver's license, diplomas, birth certificates if applicable) should be translated to English and certified, though English is widely practiced
Banks Accepting Expats
- Bank of Maldives
- Commercial Bank
AI-generated estimateData refreshed July 2026
Sources cited for this category
These are the sources cited in this money & payments research for this city. Individual figures may not each trace to one of them.
More About Maldives
Data last updated July 2026 · Verify anything important.