2023 CHINESE NEW YEAR BANKNOTES

 

Long queues have formed at local banks across the island, as people start to withdraw fresh dollar bills for red packets ahead of Chinese New Year.

Some customers have resorted to waiting in line for hours just to get their hands on crisp notes.

Banks are anticipating more people to come and are rolling out measures to manage the crowd.

When CNA visited one community club, there were long lines of people waiting patiently to receive fresh notes from three pop-up ATMs, all hoping for an auspicious start to Chinese New Year.

Basically, it's a Chinese culture, said one customer.

During Chinese New Year, we will give hongbaos (red packets) to the elderly or to the kids, as a blessing for them for good health, for everything to be smooth.

Ms Diane Chang, executive director of the consumer banking group at DBS, said: We acknowledge that for our customers, there is still a demand for physical notes, and they do like the tangibility of the physical hongbaos.

Over at UOB, nearly half its branches are running low on S$2, S$10 and S$50 bills.

OCBC's slots are also fully booked.

This year, customers can choose to receive brand new notes, or notes that look almost new.

However, there is no contest which is more popular, with customers preferring new bills.

Customers who do not wish to get caught up with the crowd, and want to do their bit for the environment, are encouraged to try alternative gifting methods, such as e-hongbao and digital gift cards.

To read the complete article, see:
Long queues for new banknotes ahead of Chinese New Year (https://www.channelnewsasia.com/singapore/long-queue-new-banknotes-chinese-new-year-3187436)

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