How to change new notes for Chinese New Year in 2023?
Changing new notes before the Chinese New Year is a tradition in Singapore and other Chinese communities. Freshly printed currency notes are carefully packed into red packets (hong-bao in Mandarin or ang-bao in the Hokkien dialect) to be given by elders to the younger generation as a symbol of good luck during the festive season. Apart from Chinese New year, red packets are also given during special occasions such as weddings, baby showers, or birthdays as tokens of good wishes.
Prior to the COVID-19 pandemic, the elders of a family will have to queue at the banks two to three weeks before the Lunar New Year to exchange new notes in smaller denominations of S$2, S$10, and S$50. Luckily, in order to comply with Safe Management Measures in the past 3 years, banks have offered more options for those who wish to exchange new notes.
From CNY 2023 onwards, on top of newly printed notes, fit-for-gifting notes will also be made available under the notes exchange service to reduce carbon emissions and wastages. Members of the public are strongly encouraged to use these notes that are deemed clean and of suitable quality for sustainable festive gifting.
We have compiled the details and policies for each of these options in 2023 as follows:
Can I walk-in to change new notes at bank branches?
According to the guidance published by the Monetary Authority of Singapore, walking into selected DBS, POSB, OCBC, UOB bank branches to exchange for new notes is only available to customers aged 60 years and above, or persons with disabilities. All other customers who do not fall within these two groups have to make their reservations online prior to collecting the notes.
Standard Chartered Bank announced separately that they are following suit with the same arrangements.
DBS / POSB
Eligible DBS / POSB customers (senior citizens aged 60 and above & persons with disabilities only) can walk-in to any of the 31 branches below from 5 January 2023 to 20 January 2023 during branch operating hours to exchange new notes:
- DBS Ang Mo Kio Central | Blk 712A Ang Mo Kio Avenue 6 [Map]
- DBS Bishan | Junction 8 [Map]
- DBS Bukit Timah | Bukit Timah Plaza [Map]
- DBS Choa Chu Kang | Blk 304 Choa Chu Kang Avenue 4 [Map]
- DBS Clementi Central | Blk 449 Clementi Avenue 3 [Map]
- DBS Harbourfront | Harbourfront Centre [Map]
- DBS Holland Village | Raffles Holland V [Map]
- DBS Kovan | Blk 204 Hougang Street 21 [Map]
- DBS Marina Bay Financial Centre | MBFC Tower 3 [Map]
- DBS Parkway Parade | Parkway Parade [Map]
- DBS Plaza Singapura | Plaza Singapura [Map]
- DBS South Bridge | Hong Lim Complex [Map]
- DBS Suntec City | Suntec City [Map]
- DBS Tampines One | Tampines 1 [Map]
- DBS Thomson | Thomson Plaza [Map]
- DBS Toa Payoh | HDB Hub [Map]
- DBS Towner Road | Blk 101 Towner Rod [Map]
- DBS Westgate | Westgate [Map]
- DBS Woodlands | Woodlands Civic Centre [Map]
- POSB Bedok Central | Blk 213 Bdeok North Street 1 [Map]
- POSB Bukit Batok Central | Blk 636 Bukit Batok Central [Map]
- POSB Compass One | Compass One [Map]
- POSB Hougang Central | Blk 805 Hougang Central [Map]
- POSB Jurong Point | Jurong Point [Map]
- POSB Paya Lebar | Singapore Post Centre [Map]
- POSB Square 2 | Square 2 [Map]
- POSB Tampines Central | Blk 513 Tampines Central 1 [Map]
- POSB Tiong Bahru | Tiong Bahru Plaza [Map]
- POSB Waterway Point | Waterway Point [Map]
- POSB White Sands | White Sands [Map]
- POSB Yishun West | Blk 101 Yishun Avenue 5 [Map]
UOB
Eligible UOB customers (senior citizens aged 60 and above & persons with disabilities only) can visit any of UOB branches during branch operating hours from 5 January onwards for notes exchange.
OCBC
Eligible OCBC customers (senior citizens aged 60 and above & persons with disabilities only) can visit any of OCBC branches during branch operating hours from 5 January 2023 onwards for notes exchange.
Standard Chartered Bank (SCB)
Eligible SCB customers (senior citizens aged 60 and above & persons with disabilities only) can visit any of SCB branches during branch operating hours from 5 to 20 January 2023 for notes exchange.
Other banks offering walk-in CNY notes exchange service
Though walk-in CNY note exchange is limited only to eligible customers for the 3 local banks and Standard Chartered Bank, there are no restrictions for customers of the following banks:
- Maybank *
- Bangkok Bank
- Bank of America
- Bank of China
- Bank of India
- BNP Paribas
- CIMB Bank
- Citibank
- Deutsche Bank
- Habib Bank
- HL Bank
- HSBC Bank
- Indian Bank
- Indian Overseas Bank
- Industrial and Commercial Bank of China (ICBC)
- KEB Hana Bank
- P.I. Bank Negara Indonesia
- RHB Bank
- State Bank of India
- The Bank of East Asia
- UCO Bank
Maybank
All Maybank customers can visit all Maybank branches (except MSpace) during branch operating hours from 5 January 2023 for notes exchange. However, senior citizens aged 60 and above & persons with disabilities will be given priority in the first hour of service. Online reservations are highly recommended.
HSBC Bank
All HSBC customers can walk in to all branches during operating hours for new notes exchange from 9 January 2023. Each customer is entitled to withdraw or exchange up to S$1,000 worth of S$2 notes, and S$2,000 worth of S$10 notes.
Where to withdraw new notes from the ATMs in Singapore?
Apart from POSB / DBS’s Bank Teller Machines (BTMs) where you can exchange new notes all year round, you can also get new notes by withdrawing from DBS / POSB pop-up ATMs and at selected UOB ATMs this Chinese New Year (CNY). No pre-booking or online reservation is required to draw new notes from these machines.
From previous year’s experience, long queues are expected at these CNY ATMs. Customers are advised to check the status of the queues and the availability of the notes prior to visiting them.
DBS / POSB Pop-up ATMs
- 72 ATMs loaded with fit and new notes are made available in 47 locations island wide
- Available from 5 to 20 January 2023 (10am to 10pm), and on the 21 January 2023 (10am to 1pm)
- Each customer is limited to three withdrawals throughout this period.
- Customers will be able to withdraw new notes in sums of:
- S$100 (S$2 x 50)
- S$300 (S$10 x 30)
- S$500 (S$50 x 10)
- S$600 (S$10 x 20 + S$50 x 8).
- Check the waiting time and locations of these pop-up ATMs and self-service touchpoints here.
- For more information on the pop-up ATMs, you can check the FAQs here.
UOB Lunar New Year (LNY) Machines
- 2 Fit-for-Gifting Notes ATMs and 15 New Notes ATMs locations
- Available from 5 to 18 January 2023 during machine operating hours (various starting time but all ends at 7:30pm)
- OCBC customers would not be able to withdraw new notes from these UOB LNY machines
- Each customer is limited to a maximum of two new notes withdrawals per ATM/Debit card on a first come, first served basis and subject to availability
- Customers may withdraw up to a maximum of S$1,600, in 6 available options as follows:
- S$100 (S$2 x 50)
- S$300 (S$10 x 30)
- S$500 (S$50 x 10)
- S$800 (S$50 x 16)
- S$300 (S$2 x 25 + S$10 x 25)
- S$500 (S$10 x 20 + S$50 x 6)
- Check the locations, notes availability, and FAQs of the UOB LNY machines here.
How to reserve new notes online?
You can also make an online reservation (or pre-booking) for new notes this CNY 2023. By reserving the notes online, you can pick your preferred timing and avoid the long queues at the branches or ATMs. Check out how you can pre-book your slot below:
- DBS / POSB
- DBS/POSB CNY new notes reservation website
- Customers may reserve up to a combined value of S$1,000 for new notes, and S$1,200 for Fit-for-Gifting notes with the following denomination options:
- S$2 notes – Value of S$200, S$400
- S$10 notes – Value of S$100, S$200, S$300, S$400, S$500
- S$50 notes – Value of S$100, S$200, S$300, S$400, S$500
- Booking Window #1: 5 to 8 January 2023
(Fully booked. Consider using CNY pop-up ATMs.)- Collection Period: 10 to 13 January 2023
- Booking Window #2: 9 to 15 January 2023
(Fully booked. Consider using CNY pop-up ATMs.)- Collection Period: 16 to 20 January 2023
- UOB
- UOB CNY new notes reservation website
- Customers may reserve up to a combined value of S$1,200 with the following denomination limits:
- S$2 notes – Minimum S$200 | Limited to S$200
- S$10 notes – Multiples of S$100 | Limited to S$500
- S$50 notes – Multiples of S$100 | Limited to S$500
- Booking Window #1: From 5 January 2023 until slots are filled (Fully booked)
- Collection Period: 10 to 14 January 2023
- Booking Window #2: From 12 January 2023 until slots are filled (Fully booked)
- Collection Period: 16 to 20 January 2023
- OCBC
- OCBC CNY new notes reservation website
- Customers may reserve up to a combined value of S$1,200 with the following denomination limits:
- S$2 notes – Minimum S$200 | Limited to S$200
- S$10 notes – Multiples of S$100 | Limited to S$500
- S$50 notes – Multiples of S$100 | Limited to S$1,200
- Booking Window #1: 5 to 7 January 2023 (Fully booked)
- Collection Period 1: 10 to 13 January 2023
- Booking Window #2: 9 to 11 January 2023 (Fully booked)
- Collection Period 1: 14 to 17 January 2023
- Booking Window #3: 13 to 15 January 2023 (Fully booked)
- Collection Period 1: 18 to 21 January 2023
- Standard Chartered Bank
- Standard Chartered (SC) mobile app (click on the reservation banner)
- Customers may reserve notes from the following denominations:
- S$2 notes – Multiples of S$200 | Limited to S$400
- S$5 notes – Limited to S$400
- S$10 notes – Limited to S$1,000
- S$50 notes – Limited to S$2,000
- Booking Window #1: 5 to 9 January 2023 (Fully booked)
- Collection Period: 10 to 20 January 2023
- Note: Booking opens at 10:00am on 5 January 2023.
- Maybank
- Maybank CNY new notes reservation website
- Customers may exchange up to 2 bundles of new notes with a total value of S$1,000. Each bundle comprises of the following denominations valued at S$500:
- S$2 notes – 100 pieces
- S$10 notes – 30 pieces
- Booking Window #1: From 5 January 2023 9:00am, until slots are filled (Fully booked)
- Booking Window #2: From 12 January 2023 9:00am, until slots are filled (Fully booked)
