Reservations for fit or new banknotes available for CNY from 7 Jan
With the Chinese New Year (CNY) approaching, those in Singapore can make online reservations for fit and new notes via DBS, OCBC, and UOB from 7 Jan. Online registration for DBS starts at 12am.
Customers can collect their pre-booked new and fit-for-gifting notes at their preferred branch from 14 Jan, according to the Monetary Authority of Singapore (MAS).
The online pre-bookings can be made through the banks’ official websites or mobile banking applications.
“To protect customers from phishing scams, banks will not send any SMS messages with clickable links to customers,” said MAS.
Only individuals aged 60 and above, or those with disabilities, are eligible for walk-in exchanges without pre-bookings from 14 Jan.
Pop-up & branch ATMs dispensing notes available at various locations
For more convenience, DBS, OCBC, and UOB banks will also increase the availability of pop-up and branch ATMs dispensing these notes at multiple locations across the island.
Source: DBS
On Thursday (2 Jan), DBS said that it will have 72 pop-up ATMs across 48 locations, while OCBC will have 24 ATMs in 13 locations.
Customers can withdraw notes from these ATMs starting 14 Jan.
MAS encourages the use of fit notes & digital gifting
MAS has encouraged the public to adopt more eco-friendly hongbao options by choosing e-hongbaos or fit notes over new notes. Fit notes are used currency notes that are clean and suitable for recirculation.
In 2024, more than 11.7 million fit notes were exchanged at the banks, reflecting a 5% increase from the previous Lunar New Year.
The exchange led to an emissions reduction of about 408 tons of CO2 equivalent (408tCO2e), which is comparable to the annual emissions generated from powering around 220 four-room public housing flats, according to MAS.
In 2024’s survey, two in three hongbao givers chose fit notes over new notes.
DBS customers embracing e-hong bao can win S$8,888 or S$88 prizes
Apart from fit notes, e-hongbaos are a convenient and greener way to send well wishes to loved ones during Chinese New Year.
DBS customers who want to go cashless can gift a physical QR Ang Bao or send a personalised digital red packet via eGift.
Source: DBS
Those who embrace digital gifting can earn a chance to win over 1,000 prizes, including S$8,888 and S$88.
All they need to do is to send a QR Ang Bao or eGift with at least S$8 while also keeping cash withdrawals under S$500 between 7 Jan and 18 Feb 2025.
Customers interested in the QR Ang Bao can place their order through the website by 8 Jan for free doorstep delivery.
Alternatively, they can also collect their complimentary QR Ang Baos from a DBS/POSB branch starting 3 Jan.
Also read: New Banknotes: Why Do S’poreans Keep Queuing For Them Ahead Of CNY?
New Banknotes: Why Do S’poreans Keep Queuing For Them Ahead Of CNY?
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Featured image adapted from Singapore Motherhood and DBS.
