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

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 introduce the Wise account, a handy companion to make your money go further with low, transparent fees.

Table of contents
When do banks release new notes in Singapore for Chinese New Year? How to get new notes from a bank in Singapore DBS, OCBC and UOB CNY new notes: What to know Can you withdraw new notes from ATMs in Singapore? Send money to a loved one abroad with Wise FAQs

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.

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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

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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.

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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.

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Send money to a loved one abroad with Wise

Wise international money transfers can be set up online or within the Wise app with low fees from 0.26% and the mid-market rate, to over 140+ countries. There’s no markup added to the exchange rate that’s used to convert your currency, which makes it easier to see exactly what you're paying for a transfer, and what the recipient will get in the end. Just transfer the amount indicated in SGD and let Wise do the rest.

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FAQs

How early should I reserve new notes for Chinese New Year?

It’s best to reserve as soon as banks open their booking systems — usually two to four weeks before CNY.

Can non-customers exchange new notes at banks?

Some banks restrict exchanges to existing customers, especially during peak demand periods.

Is there a fee for exchanging new notes?

Most banks exchange notes at face value, but limits apply.

Are new notes available every year?

Banks usually release new or good-as-new notes annually for Chinese New Year, subject to availability.

What denominations are most popular?

$10 and $50 notes are the most commonly requested and tend to run out first.

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Sources used:

1. Monetary Authority of Singapore – Currency issuance information
2. DBS Singapore – Chinese New Year new notes exchange guidelines
3. DBS Singapore – Online reservation for CNY notes
4. DBS Singapore – Pop-up ATM announcements
5. OCBC Singapore – CNY new notes exchange programme
6. UOB Singapore – Chinese New Year banknote exchange information