Singapore, 2 January 2025… With the coming Lunar New Year (LNY) festivities, the Monetary Authority of Singapore (MAS) strongly encourages the public to use Fit notesFit 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 ATMs. or e-hong baos to achieve a greener future. Online pre-booking of Fit notes for DBS, OCBC and UOB customers will start from 7 January 2025.   

2 Choosing Fit notes or e-hong baos, instead of new notes, preserves the LNY tradition of gifting hong baos, while reducing carbon emissions from producing new notes. In 2024, almost 2 in 3 hong bao givers surveyedThis is based on an online poll conducted by the Ministry of Digital Development and Information in May 2024 with 1,050 Chinese Singaporean residents aged 15 and above to understand the public’s sentiments towards using Fit notes and e-hong baos for festive gifting., did their part for the environment by choosing to use Fit notes over new notes. Over 11.7 million pieces of Fit notes were exchanged at the banks, an increase of 5% from the previous LNY. This resulted in emissions savings of around 408tCO2e, equivalent to the annual emissions from powering about 220 four-room public housing flats. For more information on Fit notes, please visit www.go.gov.sg/usefitnotes. 

3 To make it easier and more convenient for members of the public to obtain Fit notes, DBS, OCBC and UOB will be increasing the number of pop-up and branch ATMsNew notes are also available for withdrawal at selected pop-up and branch ATMs of these banks. dispensing Fit notes in various locations across Singapore. 

4 Customers 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 through the banks’ official websites or mobile banking applications. Customers of all other banks may refer to the respective banks’ websites for details on Fit and new notes exchange. To protect customers from phishing scams, banks will not send any SMS messages with clickable links to customers.  More information can be found in the Annex.

5 The schedule for the pre-booking and exchange of Fit and new notes at DBS, OCBC and UOB is as follows:

6 Aside from gifting Fit notes, members of the public can also send e-hong baos to convey LNY greetings and blessings to family and friends. E-hong baos have been well-received and is a convenient way to send well wishes to loved ones during LNY. Banks have enhanced their e-hong bao offerings to allow greater personalisation of LNY greetings. 

7 Ms Cindy Mok, Assistant Managing Director (Finance, Risk & Currency), MAS, said, “We are heartened that more and more Singaporeans are adopting greener options by using Fit notes or e-hong baos for festive gifting. This coming Lunar New Year, let us encourage more of our family and friends to do so. Together, we can contribute to a greener tomorrow, while preserving our Lunar New Year customs.”