Booking of CNY hongbao notes to start on Jan 27

SINGAPORE – The public may book hongbao notes online from Jan 27 for Chinese New Year (CNY), which starts on Feb 17 in 2026.

DBS Bank, OCBC Bank and UOB customers who wish to exchange notes at bank branches will need to book the notes through the banks’ official websites or mobile banking applications, said the Monetary Authority of Singapore (MAS) in a statement on Jan 19.

Collection of pre-booked new and fit-for-giving notes, as well as the exchange of notes at selected pop-up and branch ATMs, will start from Feb 3.

Only those aged 60 and above and people with disabilities may walk in to bank branches to exchange notes, starting from Feb 3.

To celebrate this festival more sustainably, MAS is encouraging people to opt for fit-for-giving notes or e-hongbao.

Referred to as fit notes by MAS, fit-for-giving notes are used currency notes similar in quality to those from ATMs that may have fold lines or minor stains.

DBS and POSB customers can withdraw fit and new notes from 71 pop-up ATMs across 47 locations from Feb 3 to 16, the bank said on Jan 19. Their customers can also reserve fit and new notes during a second reservation window starting on Feb 2.

OCBC will also be dedicating 25 ATMs across 14 locations to disburse new and fit notes.

OCBC’s head of branch service and risk management Jean Oh said: “As the industry continues to promote environmentally conscious consumption, we have increased the number of ATMs dispensing fit notes to five machines this year.”

The five machines are located at OCBC Centre, Wisma Atria, Marine Parade Central​ and OCBC Tampines Centre Two Level 1.

UOB customers can use 34 ATMs in 17 locations to withdraw new notes. There will also be four ATMs dispensing fit notes at International Plaza, Sengkang MRT station, United Square and Woodlands MRT station.

According to MAS, more Singaporeans are opting for greener ways to celebrate CNY.

In 2025, more than 16 million pieces of fit notes were exchanged at banks, which enabled emissions savings equivalent to the annual carbon footprint of powering 280 four-room HDB flats. This marked a 40 per cent increase in emissions savings from 2024.

An MAS survey done in 2025 showed that two in three people were open to receiving fit notes in their hongbao, saying that the condition of the notes did not matter.

There will be more pop-up and branch ATMs dispensing fit notes at various locations across Singapore in 2026, said MAS.

The authority also encouraged the public to consider sending e-hongbao to convey their festive greetings and blessings.

DBS and POSB customers who send a digital gift of at least $8 and keep their total cash withdrawal between Jan 27 and March 10 to below $500 will qualify for a draw in which they will stand to win up to $2,828 or a Prosperity Horse Medallion Set.

Customers who send a digital gift of at least $8 and deposit fresh funds of at least $8,000 into their existing accounts in the same period will also qualify for the draw.

When an eligible participant wins, the first recipient of the digital hongbao will also receive the same prize.

Recipients need to have the DBS PayLah! app and a DBS/POSB account to be eligible for the prize.

DBS and POSB have also rolled out new red packet designs, which come with QR code insets that recipients with DBS PayLah! or a PayNow-linked bank account can scan to redeem their gift. These can be collected at DBS/POSB branches islandwide from Feb 3.

Ms Cindy Mok, MAS assistant managing director for finance, risk and currency, said: “The 40 per cent increase in fit notes exchanged last year is a very encouraging development that reflects the public’s growing acceptance towards sustainable gifting.

“This Lunar New Year, we hope that more Singaporeans will choose fit notes or e-hongbao. Together, we can contribute to a greener future, while keeping our cherished traditions alive.”