Booking for CNY fit-for-gifting notes to start from Jan 27

The public may make bookings to collect fit-for-gifting bank notes for Chinese New Year (CNY) from Jan 27, the Monetary Authority of Singapore (MAS) said on Monday (Jan 19).

CNY falls on Feb 17 and 18.

Singaporeans are also encouraged to be environmentally-conscious by choosing "fit" notes or electronic hongbao (e-hongbao), the authority said.

These "fit" notes are similar to those from ATMs and may have fold lines or minor stains.

A MAS survey of 1,853 Chinese Singaporeans and permanent residents conducted in July 2025 found that two in three people were open to receiving "fit" notes in their red packets. 

"The respondents also indicated that the condition of the notes did not matter and 'fit' notes were as meaningful as new notes," MAS said.

The finding is consistent with DBS' observations, with a 7 per cent year-on-year decline in cash withdrawals recorded in 2025.

Last year, over 16 million pieces of "fit" notes were exchanged at the banks, enabling emission savings equivalent to the annual carbon footprint from powering 280 four-room HDB flats.

According to the authority, this represents an increase of about 40 per cent from 2024. 

DBS, OCBC and UOB customers can start making online bookings for fit or new notes from Jan 27 through the official websites or mobile banking applications.

They can collect their pre-booked notes at the banks' branches from Feb 3.

"To protect customers from phishing scams, banks will not send any SMS messages with clickable links," MAS said.

DBS, OCBC and UOB customers can also use the banks' pop-up or selected branch ATMs to exchange CNY notes from Feb 3.

Walk-in at the branches of these banks are only for customers aged 60 and above and for persons with disabilities.

Meanwhile, Standard Chartered Bank and Citibank will also offer "fit" notes at pop-up or selected ATMs. Their customers can walk in to branches without a booking.

Customers of other banks may refer to the respective banks' websites for details on fit and new notes exchange.

DBS said in a media statement on Monday that they will have 47 pop-up ATMs across the island. 

According to its pop-up ATM listing, these ATMs can be found at People's Association's community clubs and in the heartlands. They will operate from 10am to 10pm daily and from 10am to 1pm on the eve of CNY (Feb 16).

To encourage adoption, DBS is also enhancing its Chinese New Year festive draw campaign, expanding both incentives and qualifying ways.

"Since introducing digital gifts in 2015, we have focused on making it easier for our customers to share blessings in ways that blend tradition with technology," said Calvin Ong, managing director and head of consumer banking at DBS.

Meanwhile, head of branch service and risk management Jean Oh said OCBC will have 25 ATMs to disburse new and "fit" notes across 14 locations. 

The bank has also increased the number of ATMs dispensing "fit" notes to five machines, amid the push for environmentally conscious consumption.

UOB customers can withdraw new notes at 34 ATMs across 17 locations and "fit" notes at four ATMs. 

Each customer has a limit of three withdrawals during the exchange period. Details are available on UOB's website.

Benny Chan, UOB's managing director of group channels and digitalisation, said: "We strongly encourage customers to gift e-hongbaos through our UOB TMRW app to celebrate the festive season, while doing their part for the environment."

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editor@asiaone.com