How to get new notes from banks in Singapore for Chinese New Year

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Exchanging crisp banknotes is a long-standing Chinese New Year tradition in Singapore, which is why demand peaks in the weeks before the festive season. New notes aren’t issued year-round, so they can run out quickly.

This guide explains how to get new notes from a bank in Singapore, what to expect during Chinese New Year, and how the process works across major banks. We’ll also let you in on how you can send your blessings internationally with Wise e-hongbao, and get a chance to win a fee credit of up to £88.88!

When do banks release new notes in Singapore for Chinese New Year?

Banks usually release new notes two to four weeks before Chinese New Year, depending on the year’s festive calendar¹. Availability is tied to the CNY period, and once allocations are fully taken up, banks typically don’t issue additional supplies.

Banks also distinguish between two types of notes:

• New notes: freshly issued and uncirculated
• Fit-for-giving notes: clean, high-quality notes that have been recirculated

Both are commonly used for hongbao, but truly new notes are more limited and often require advance planning.

Closer to the festive period, banks publish official announcements on their websites and apps with details on booking windows, collection dates, and eligibility.

How to get new notes from a bank in Singapore

The process is fairly straightforward, but it varies slightly by bank and year.

Getting new notes at bank branches

Some banks still allow over-the-counter exchanges at selected branches during the CNY period. However, walk-in exchanges are restricted. From 3 February, only those aged 60 and above and people with disabilities may walk into bank branches to exchange new or fit-for-giving notes². For everyone else, advance online booking is required.

What to expect:

• You may need to be an existing customer of the bank
• Exchanges are capped per person
• Popular denominations like $10 and $50 may run out quickly

Because of these limitations, many banks now encourage customers to book in advance online instead.

Reserving new notes online

Online reservations are now the main way to secure new notes in Singapore during Chinese New Year. For most banks, reservation windows open from 27 January, with a dedicated booking page or in-app feature available for a limited time³.

Most banks follow a similar process during Chinese New Year:

1. Enter the reservation portal on your bank’s website or app when booking opens.
2. Log in to verify your identity using your bank or card details.
3. Choose a branch, date and time for collection.
4. Select denominations and quantities for new and fit-for-giving notes.
5. Confirm your booking and wait for a confirmation message with collection details. \

Booking windows are often short, so it helps to act early once reservations open.

DBS, OCBC and UOB CNY new notes: What to know

Most major retail banks in Singapore follow a similar schedule for Chinese New Year new-note exchanges, combining online reservations, branch collections, and pop-up ATMs during the festive period.

Key dates to know

• 27 January: first online reservation window opens
• 3 February: second reservation window opens and pop-up ATMs begin operating
• 3 to 15 February: selected pop-up ATMs dispense new or fit-for-giving notes

Can you withdraw new notes from ATMs in Singapore?

Outside of Chinese New Year, ATMs in Singapore do not dispense new notes. During the festive period, only specially designated or pop-up ATMs are enabled for this purpose.

Pop-up ATMs for new and fit-for-giving notes

Pop-up ATMs operate only during the festive window, typically from 3 to 15 February, dispensing new or fit-for-giving notes in fixed denominations. Locations are announced closer to Chinese New Year and may vary by bank and day

Pop-up ATMs work on a first-come, first-served basis, and note availability can differ by location.

Checking official bank announcements before booking or heading to an ATM can help avoid wasted trips.

What to do if you miss the CNY new notes booking window

Missing the booking window doesn’t mean you’re out of options.

You could consider:

• Fit-for-giving or good-as-new notes, which are widely accepted for hongbao
• Using smaller denominations that may still be available
• Sending an e-hongbao

If you’re sending money digitally, physical cash isn’t always necessary. Whether you’re gifting locally or to friends and family overseas, you can send money online, learn more in our guide on how to send an e-hongbao.

This can be a practical alternative when banknote supplies are limited, or when loved ones are celebrating Chinese New Year overseas.

Send e-hongbao to a loved one abroad with Wise for a chance to win a fee credit up to £88.88

Celebrate this Lunar New Year by sending e‑hongbaos to friends and family in China, Singapore, Malaysia, Indonesia, Thailand, and Hong Kong. With Wise, sending a digital blessing is simple - all you need is an email address, a mobile number, or an Alipay/WeChat ID.

When you send e‑hongbaos overseas with Wise, you get the mid‑market exchange rate and transparent fees shown upfront. You can send money to 160+ countries, so you always know exactly what you’re paying without hidden markups.

And if you are sending to an Alipay user, your recipient gets an extra touch of luck. When you send an e-hongbao via this route, your recipient will receive additional red packets directly into their Alipay account.

You can learn more here.

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