2 million more Bicentennial $20 notes available for exchange: Apply online from Sept 16

Singaporeans and PRs can apply online for two million more pieces of the Singapore Bicentennial $20 commemorative note from Sept 16, 2019.
PHOTO: Monetary Authority of Singapore

SINGAPORE - Members of the public can apply online for the Singapore Bicentennial $20 commemorative note from Monday (Sept 16) until Oct 13.

The Monetary Authority of Singapore (MAS) announced on Monday that it is launching the online application service for two million more pieces of the note.

The application, at go.gov.sg/mas, is open to Singapore citizens and permanent residents.

Each applicant can apply for up to 10 notes.

Successful applicants will be notified by Nov 3. They can exchange the notes at face value from early November.

Applicants can obtain the notes during the exchange period, and there is no need to rush to queue for the notes, said the MAS.

The first two million $20 notes, issued to mark Singapore's bicentennial year, were exchanged at banks within a week of the launch on June 5.

Each person was allowed to exchange up to 20 pieces per transaction.

The MAS announced in June that it would issue another two million pieces of the Singapore Bicentennial $20 commemorative note to meet the strong public interest.

There was overwhelming demand from the public, with long queues seen at bank branches islandwide.

Listings for the $20 note also appeared on online marketplaces at marked-up prices, with some being offered for as much as $1,688 for five pieces.

The MAS said on Monday that applicants for the additional two million notes may not receive the full number of notes they apply for.

"If demand is very strong, MAS will try to allocate at least one note to every applicant in order to give all applicants an opportunity to obtain the note," the MAS said in its statement.

It added that Pioneer and Merdeka Generation applicants will get priority.

On the portal, applicants have to indicate their NRIC or birth certificate and mobile number for verification and notification purposes.

Applicants will need to select the number of notes they would like to exchange, as well as their preferred bank and branch - out of the nine major retail banks - to exchange the notes at.

Applicants who do not have computer or Internet access can get help at the Citizen Connect Centres at 25 community clubs (CCs) and Our Tampines Hub.

Those with Internet access on their mobile devices but need help applying for the notes can visit any of the 108 CCs for help.

Successful applicants will have to exchange the notes within the two-week period that starts in early November. The exact date will be announced later.

They can make the exchange only at the bank branch selected in the online application form.

Successful applicants who cannot exchange the notes in person can provide a copy of their NRIC or birth certificate to another person to make the exchange on their behalf.

Remaining notes after the exchange period will be made available for the general public to exchange.

No online application is necessary to exchange the remaining notes.

This article was first published in The Straits Times. Permission required for reproduction.