As Chinese New Year (CNY) 2025 approaches, the tradition of gifting new notes holds immense cultural significance in Singapore. To facilitate the practice, leading banks such as DBS, OCBC, and My Bank have introduced enhanced services designed to make the process safer, more efficient, and environmentally friendly. These services include online reservations, improved ATM facilities, and digital gifting options, allowing customers to prepare for the festive season with ease.
DBS, OCBC, and My Bank Services for New Notes
This year, DBS has expanded its offerings by increasing the number of ATMs and online reservation slots. With 61 ATMs spread across 41 locations, DBS aims to meet the growing demand for new notes. Similarly, both OCBC and My Bank offer convenient online reservation systems for their customers, making it easier to reserve new notes in advance. Additionally, digital gifting has gained popularity, with options like DBS’s QR Gift and OCBC’s eAng Bao offering modern, eco-friendly alternatives to traditional red packets.
Overview of the New Notes Reservation Services
The process for reserving new notes has been streamlined by major banks. Here are the details of how to reserve new notes and collect them:
- DBS/POSB: Offers an online reservation system where customers can select their preferred denominations of SGD 2, SGD 10, and SGD 50. Reservations are open from January 7 to 20, with collection available from January 14 to 27, 2025. DBS has doubled its reservation slots this year to ensure faster processing.
- OCBC and My Bank: Both banks also allow online reservations, offering a simple, first-come, first-served process for customers to select their denominations. OCBC starts accepting reservations on January 7, 2025, while My Bank allows customers to make reservations through its online platform.
Understanding Fit Notes for Sustainable Gifting
Fit notes are used currency notes in excellent condition, making them a smart and sustainable option for CNY gifting. These notes are carefully checked by banks to ensure they meet high standards of cleanliness and quality, offering an eco-friendly way to continue the tradition of giving angbaos. By opting for fit notes, customers contribute to sustainability by reducing the need for printing new currency.
Benefits of Fit Notes
- High Quality: Fit notes are thoroughly inspected and appear nearly as good as new.
- Eco-Friendly: Using fit notes reduces the environmental impact associated with printing new money.
- Sustainability: This practice helps promote greener celebrations and supports environmental protection.
Eligibility for Walk-In Exchanges
While online reservations are convenient, walk-in exchanges are available for those who prefer in-person transactions. This option ensures that everyone can participate in the Chinese New Year tradition of gifting fresh notes.
- Senior Citizens: People aged 60 and above are prioritized in walk-in exchanges, ensuring they have easier access to fresh notes.
- Persons with Disabilities: Special accommodations are made to assist customers with disabilities, ensuring they have equal access to the services.
- Availability: Walk-in exchanges are offered at specific branches and depend on the availability of fresh notes.
New Notes Collection Schedule by Bank
Here’s a summary of the collection periods for new notes across different banks:
- DBS/POSB: January 14–27, 2025
- OCBC: January 14–27, 2025
- My Bank: January 14–27, 2025
Benefits and Features of New Note Services
The services provided by DBS, OCBC, and My Bank ensure a smooth and accessible experience for customers preparing for Chinese New Year. Key features include:
- DBS/POSB ATMs: With 61 ATMs available across 41 locations, customers can conveniently withdraw new notes from 10 AM to 10 PM daily, with shorter hours on CNY Eve.
- OCBC ATMs: Strategically located ATMs ensure ease of access, with priority services for elderly and disabled customers.
- My Bank Services: My Bank offers a wide range of ATMs and a helpline to assist customers with reservations and withdrawals.
Digital Gifting Options for Chinese New Year
Digital gifting has become an increasingly popular option during Chinese New Year celebrations. These modern alternatives replace traditional red packets with eco-friendly digital options, making them a convenient and secure way to share festive cheer.
- DBS Digital Solutions: DBS offers the QR Gift and eGift features, enabling customers to send digital red packets using their mobile app.
- OCBC eAng Bao: OCBC’s eAng Bao service provides a secure and eco-friendly way to send virtual red packets.
- My Bank Digital Features: My Bank’s app allows users to send digital red packets, providing a customized gifting experience.
Conclusion
With improved services for new notes, banks like DBS, OCBC, and My Bank are making the 2025 Chinese New Year preparations more accessible, convenient, and sustainable. From online reservations to digital gifting options, customers can celebrate in a way that honors tradition while embracing modern, eco-friendly solutions.
