SINGAPORE - Scores of Standard Chartered Bank customers were unable to log into its mobile app and Internet banking website on Jan 17, due to a surge of customers hoping to reserve Chinese New Year notes.

Users began reporting issues with the StanChart app to the Downdetector website – which tracks service disruptions – from about 10am, with the volume of complaints spiking to 241 at 10.14am.

The issue was resolved by 1pm, said StanChart in a statement to The Straits Times.

During the disruption, customers who tried to reserve new notes to stuff red packets with this Chinese New Year were either unable to log into their apps or were logged out after they clicked on the reservation banner, according to comments left by disgruntled customers on a Facebook post by StanChart acknowledging the problem.

In a screengrab of an in-app notification seen by ST, the message said that the login problems were due to an “abnormally high volume of clients reserving Lunar New Year new notes online”.

“We thank clients for their patience and deeply apologise for any inconvenience caused,” said the bank’s spokesman.

In response to ST’s query, the Monetary Authority of Singapore (MAS) said: “Banks should plan ahead for periods where transaction volumes are expected to be higher, such as during festive seasons.”

MAS added that it will follow up with StanChart on its management of this incident.

More than 11 million “fit-for-gifting” notes were exchanged for Chinese New Year in 2023, MAS said on Jan 15.

This year, the public can make appointments to exchange cash for hongbao notes from Jan 17, ahead of the first day of Chinese New Year, which falls on Feb 10.

This can be done through the online reservation systems of DBS Bank, OCBC Bank and UOB, among others, added MAS. Collection of notes will start from Jan 24.

Walk-in exchanges at DBS, OCBC and UOB branches are available only to those aged 60 and above and people with disabilities.

From Jan 24, these new notes can be withdrawn without any prior booking at selected DBS, OCBC and UOB pop-up and branch ATMs.