Money, cards and ATMs in Maldives

Money and payments

• Currency and rates: The official currency is the Maldivian rufiyaa (MVR). The rufiyaa is pegged to the US dollar, and the Bank of Maldives sells dollars at 1 USD = 15.42 MVR - a rate that has been fixed rather than floating, so it does not move with the market the way most currencies do. The US dollar is universally accepted as a parallel currency in resorts, hotels and restaurants.
• ATM withdrawals: Bank of Maldives (BML) ATMs are at the airport, in Malé and in Hulhumalé. Foreign-card withdrawals carry a fixed fee of about 10 USD per withdrawal, and single-withdrawal limits are low, so take out larger amounts less often rather than the reverse.
• Decline Dynamic Currency Conversion. Terminals in resorts and transit hotels often offer to settle in your card's home currency. Choose the local currency (MVR or USD) instead: letting the terminal convert hands the exchange rate to the merchant's bank, which is reliably worse than your own card network's.
• Exchanging cash: Change money only at licensed bank counters at the airport or at branches in Malé. Street changers offer better-looking rates and carry a real risk of invalid banknotes.
• Cashless payments: Cards are standard in resorts and transit hotels. On inhabited islands outside the main tourist centres, and in small local shops, cash is indispensable.
• Tipping: Not expected, because a mandatory 10% service charge is added to every bill by law. For luggage porters, 1 to 2 USD per bag is the unwritten standard.