Chinese New Year 2025: The tradition of giving new notes during Chinese New Year (CNY) is deeply rooted in Singapore’s cultural practices. To ensure that this tradition continues smoothly, banks such as DBS, OCBC, and My Bank have introduced measures to make the process more efficient, convenient, and secure. These include online reservations, improved ATM services, and digital gifting options.
Enhancements in Banking Services for CNY 2025
For CNY 2025, DBS has enhanced its services by increasing the number of ATMs and reservation slots. In addition to physical notes, digital gifting options like DBS’s QR Gift and OCBC’s eAng Bao are gaining traction as modern, eco-friendly alternatives to the traditional red packet.
What Are Fit Notes?
Fit notes are well-maintained currency notes that are reused for gifting during Chinese New Year. These notes, although used, are thoroughly checked and remain in excellent condition, making them a sustainable choice for those looking to honor tradition in an environmentally friendly way. Banks encourage the use of fit notes to promote sustainability by reducing the need for printing new money.
Eligibility for Walk-In Exchanges
For those who cannot use the online reservation system, walk-in exchanges provide an accessible alternative. Senior citizens and persons with disabilities are given priority at these exchanges, ensuring everyone can participate in the tradition of giving fresh notes. Walk-in exchanges are available at select branches and depend on the availability of fresh notes.
Collection Schedule for New Notes
Banks have set clear collection schedules for new notes to ensure a smooth experience for customers:
- DBS/POSB: Reservations can be made from January 7 to 20, 2025, with collection available from January 14 to 27, 2025.
- OCBC and My Bank: Similar collection periods apply, from January 14 to 27, 2025, with reservations beginning on January 7, 2025.
Digital Gifting Options for Chinese New Year
Digital gifting has become an increasingly popular method of sharing festive joy. Offering a convenient, secure, and eco-friendly alternative to traditional red packets, digital gifting solutions like DBS’s QR Gift, OCBC’s eAng Bao, and My Bank’s app features make it easy for customers to send their blessings.
New Notes Reservation Services at Banks
DBS/POSB Online Reservation System
DBS/POSB offers an online platform for reserving new notes, with various denominations available for selection. Customers can also choose a convenient collection branch for easy pickup. For 2025, DBS has increased the number of available slots to meet demand.
OCBC and My Bank Reservation Systems
OCBC and My Bank also provide online reservation systems, focusing on ease of access. Customers can reserve new notes by using their respective apps or websites, with priority given to those who book early. These systems allow for flexible options, including the selection of denominations and quantities.
Benefits of Using Fit Notes
Fit notes offer a range of benefits, especially during Chinese New Year celebrations:
- High Quality: Fit notes are carefully inspected to ensure they remain in near-new condition.
- Eco-Friendly: By reusing these notes, banks help reduce the carbon footprint associated with printing new currency.
- Sustainability: This approach promotes greener practices during the festive season, supporting environmental conservation efforts.
ATM and Walk-In Services for Fresh Notes
DBS/POSB ATMs and Touchpoints
DBS offers extensive ATM coverage, with 61 machines available across 41 locations. These ATMs operate daily, with extended hours during the festive period. Customers can withdraw up to three times per day.
OCBC ATMs and Branch Services
OCBC provides designated ATMs and priority services for elderly or disabled customers. Branch staff are also available to assist with reservations and note withdrawals to ensure a seamless experience.
My Bank Services
My Bank offers ATMs located in key areas for easy access and encourages the use of digital gifting options for a modern, eco-friendly approach to festive giving. The bank also provides a dedicated helpline for customer support.
Conclusion: Embracing Tradition and Innovation
Banks such as DBS, OCBC, and My Bank are offering modern solutions to make Chinese New Year celebrations in 2025 both convenient and environmentally responsible. With options like online reservations, ATM withdrawals, fit notes, and digital gifting, customers can participate in the holiday’s traditions while promoting sustainability and ease. This year, celebrate the festive season by blending tradition with innovation for a joyful and eco-conscious celebration.
