Choose Fit-for-Gifting Notes and E-Hong Baos this Lunar New Year in Support of a Greener Future
Singapore, 15 January 2024… As part of a multi-year effort in support of a greener future, the Monetary Authority of Singapore (MAS) strongly encourages the use of “Fit-for-Gifting” currency notes (Fit notes) or e-hong baos this Lunar New Year (LNY) as they are more environmentally friendly than gifting new notes. Online pre-booking of Fit notes for DBS, OCBC and UOB customers will start from 17 January 2024.
2Fit notes are used currency notes that are generally clean and of suitable quality for recirculation, including for festive gifting. The condition of these notes has been verified by banknote processing machines and is similar in quality to notes from automated teller machines (ATMs).
3Gifting Fit notes reduces carbon emissions and wastage, while conveying the same well wishes to loved ones. In the last LNY, many members of the public did their part for the environment, by exchanging over 11 million pieces of Fit notes. This resulted in emissions savings of approximately 400 tCO2e, equivalent to the annual emissions from powering about 220 four-room public housing flats. For more information on Fit notes, please visit https://go.gov.sg/usefitnotes.
4Customers of DBS, OCBC and UOB (except those aged 60 and above, or persons with disabilities) who wish to exchange Fit or new notes at the bank branches must make an online pre-booking. When making an online pre-booking, members of the public should do so through the banks’ official websites or mobile banking applications. To protect customers from phishing scams, banks will not send any SMS messages with clickable links to customers.
5For greater convenience, both Fit and new notes can also be withdrawn without any pre-booking at selected pop-up and branch ATMs of DBS, OCBC and UOB. Customers of all other banks may refer to the respective banks’ websites for details on Fit and new notes exchange. More information can be found in the Annex.
6The schedule for the pre-booking and exchange of Fit and new notes is as follows:
Pre-booking of notes online
From 17 January 2024
Collection of pre-booked notes at bank branches
Walk-in exchange at bank branches (see Annex for details)
Withdrawal at selected pop-up and branch ATMs of DBS, OCBC and UOB
From 24 January 2024
7 Aside from gifting Fit notes, members of the public can also send e-hong baos to convey blessings to family and friends conveniently. Over the years, banks have enhanced their e-hong bao offerings with new features and refreshed designs to provide more ways for customers to personalise their LNY greetings.