BML Student Card Offers Discounts, Boosts Financial Skills for Children

Bank of Maldives (BML) has introduced an exclusive discount program for users of its Student Debit Card, offering up to 10% off at selected shops, restaurants, and bookstores across the country. The initiative is part of the bank’s broader effort to promote responsible financial behavior among children and young students.

The discounts apply when the BML Student Card is used for payments at Point-of-Sale (POS) terminals in participating outlets. A full list of partner merchants will be made available to the public, the bank confirmed.

Designed to nurture financial literacy from an early age, the BML Student Debit Card is divided into two categories based on age: one for children aged 7–12 and another for those aged 13 and above. The cards are styled with age-appropriate designs and aim to introduce children to the concepts of budgeting, saving, and making informed spending decisions.

As an added incentive, BML will credit 0.5% of a student’s annual card spending back into their savings account, further reinforcing the value of saving while spending. The card is issued free of charge as a Visa debit card and can also be used internationally, including in Sri Lanka, with a default limit of USD 100 per month. For students studying abroad, the limit can be extended to USD 1,200 upon registration and documentation.

The student card operates under parental supervision. Parents can transfer funds, monitor spending, freeze or unfreeze cards, block the card if necessary, and change PIN codes – all via the BML mobile banking app. This ensures a secure and educational financial environment for children, while giving parents full control over their child’s spending.

Applications for the BML Student Card can be submitted through the bank’s mobile app, making the process convenient and accessible for families across the Maldives.