Banks see high demand for new notes leading up to CNY
Online appointment slots to exchange new notes at local banks were fully booked on 27 Jan as Singaporeans prepare for Chinese New Year (CNY).
Earlier on 19 Jan, the Monetary Authority of Singapore (MAS) announced that those wishing to exchange new notes at DBS, OCBC, or UOB must make an online appointment in advance.
According to Shin Min Daily News, booking slots at DBS and UOB were already fully taken before daybreak on Tuesday (27 Jan).
Meanwhile, OCBC Bank’s appointments were also quickly snapped up soon after opening.
Source: Chinatown Point on Facebook
From 3 Feb, customers with confirmed slots may proceed to bank counters to exchange notes.
Slots at DBS taken up within an hour
DBS opened its online booking system at midnight on Tuesday, with all available timeslots snapped up within an hour.
Some netizens reported temporary difficulties accessing the website shortly after bookings opened, with the system briefly unavailable before access was restored.
According to the DBS website, there will be another reservation window launching on 2 Feb, 12am.
Those who succeed in securing these slots may exchange their notes from 9 Feb to 13 Feb.
UOB’s website showed that all slots were filled by 6am on Tuesday, while OCBC users experienced a waiting time of about 20 minutes when the bank opened its bookings at 8am.
MAS encourages use of Fit notes or e-hong baos
Same as previous years, persons with disabilities and seniors aged 60 and above may walk in directly to exchange notes.
However, MAS continues to encourage these groups to make online bookings where possible.
MAS has also urged the public to consider Fit notes or e-hong baos as alternatives to new notes.
In 2025, more than 16 million Fit notes were processed at banks, resulting in carbon savings comparable to the yearly energy use of 280 four-room HDB flats.
Also read: 81% of people polled gift new banknotes for CNY, experts explain why
MS Polls: 81% of people polled gift new banknotes for CNY, experts explain why
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Featured image adapted from MJ_Prototype on Canva & DBS on Facebook for illustration purposes only.
