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Where And How To Get New And Fit Bank Notes For CNY 2024

Alevin Chan

Alevin Chan

Last updated 15 January, 2024

Here's our guide to getting new and Fit-for-Gifting banknotes from DBS, POSB, OCBC, and UOB, as well as information on alternative sources for banknotes for Chinese New Year.

Chinese New Year falls on 10 February, which is going to arrive faster than you may think! So if you’re a stickler for new (at new-looking) banknotes in your ang baos, it’s probably best to start preparing to exchange the banknotes you need. 

To help you get ready (and play a part in saving over approximately 400 tCO2e, equivalent to the annual emissions from powering about 220 four-room public housing flats), here’s our guide to getting the new banknotes and their just-as-crisp cousins, Fit-for-Gifting notes (fit notes) you desire. 

And in case you’re wondering if fit notes are, uh, fit for the occasion, rest assured that these are used currency notes that are generally clean and in suitable condition for recirculation, including for festive gifting. 

According to the Monetary Authority of Singapore. fit notes have also been verified by banknote processing machines and are similar to the banknotes from automated teller machines (ATMs).

For 2024, fit notes continue to be offered by banks alongside new banknotes to help keep the season ecologically friendly. You’ll also need to make an online reservation (unless you have special reasons) and self-collect, or you can try getting your notes from selected ATMs put up for the season. 

Of course, the truly low-carbon choice is to go with e-ang baos, so that’s definitely an option too!

Table of Content


How to get new notes and Fit-for-Gifting notes for CNY 2024

Bank

Collection methods

DBS/POSB

New and Fit notes

- Online reservation and collection

- Withdrawals via selected ATMs and pop-ups

- Branch walk-ins (aged > 60 and persons with disabilities) 

OCBC

New and fit notes

- Online reservation and collection

- Withdrawals via selected ATMs and pop-ups

- Branch walk-ins (aged > 60 and persons with disabilities)

UOB

New and fit notes

- Online reservation and collection

- Withdrawals via selected ATMs and pop-ups

- Branch walk-ins (aged > 60 and persons with disabilities)

Standard Chartered

Fit notes

- Branch walk-ins


New notes

- Online reservation and collection

- Branch walk-ins (aged > 60 and persons with disabilities)

Maybank

New and fit notes

- Branch walk-ins

- Online pre-booking required for new notes 

CIMB

Fit notes

- Branch walk-ins


New notes

- Online reservation and collection

- Branch walk-ins (aged > 60 and persons with disabilities)

All other banks

Fit and new notes

- Branch walk-ins


DBS and POSB Fit & New Notes 2024

Online reservation and collection

As the largest bank network in Singapore, DBS and POSB will undoubtedly see the largest number of banknote exchange requests. This means you’re likely to encounter large crowds and long queues if you choose to get your ang pow money from them.

To better manage the crowd, DBS has implemented two separate sessions for banknote collections, both requiring an online reservation to be made online beforehand.

Here are the two sessions: 

 

Reservation

Collection date (excluding Sat and Sun)

Session 1

17 - 21 January 2024

24 – 31 January 2024

Session 2

22 - 28 January 2024

1 – 8 February 2024

More details and the online reservation page can be found here

Do note that each customer is limited to 1 reservation only, and amendments will not be allowed. A reservation must be made to exchange your banknotes unless you are aged 60 and above or have a disability.

The exchange limit is as follows for DBS/POSB online reservation and collection:

Types of notes Denominations Amount Options
New notes S$2 S$0, S$200 or S$400
S$10 S$0, S$100 or S$200
S$50 S$0, S$100, S$200, S$300, S$400 or S$500
Total amount capped S$1,000
Fit-for-Gifting notes S$2 S$0, S$200, S$400, S$600 or S$800
S$10 S$0, S$100, S$200, S$300, S$400 or S$500
S$50 S$0, S$100, S$200, S$300, S$400 or S$500
Total amount capped S$1,200

DBS/POSB Pop-up ATMs

Another way to exchange banknotes from DBS and POSB is via selected and pop-up ATMs, which will be loaded with both newly minted and Fit-for-Gifting banknotes.

You may obtain new notes from 62 pop-up ATMs, or fit notes from 10 pop-up ATMs located around the island, at publicly accessible amenities such as community clubs and self-service branches. View the full list of pop-up ATMs to locate one near you. 

For quicker service, these ATMs will offer denominations of S$2, S$10 and S$50 via the following packages:

Package value Notes and denominations
S$100 S$2 x 50pcs
S$300 S$10 x 30 pcs
S$500 S$50 x 10 pcs
S$600 S$10 x 20 pcs + S$50 x 8 pcs 

DBS/POSB pop-up ATMs will be available during

  • 24 January to 8 February 2024 (10am to 10pm daily) 
  • and 9 February 2024 (10am to 1pm)

Note that only a maximum of three withdrawals are allowed by any one individual. You may choose any combination of the four packages listed above for your withdrawals.

DBS/POSB Credit Card Welcome Gift: Receive up to S$388 cashback or 85,000 miles when you apply for select DBS credit cards and fulfil the relevant promotion criteria. T&Cs apply.

 


UOB Fit & New Notes 2024

Online reservation and collection

Similar to DBS and POSB, UOB has also set aside two sessions for exchanging new and Fit-for-Gifting banknotes. Reservations can be made online, by logging into their UOB Personal Internet Banking, or through the UOB TMRW app. More details can be found here.

The two sessions are as follows:

 

Reservation

Collection date 

Session 1

From 17 January 2024

24 – 31 January 2024

Session 2

From 24 January 2024

1 – 8 February 2024

Do note that each customer is limited to 1 reservation only, and amendments will not be allowed. A reservation must be made to exchange your banknotes unless you are aged 60 and above or have a disability.

The exchange limit is as follows for UOB online reservation and collection:

Types of notes Denominations Amount Options
New/Fit-for-Gifting notes S$2 S$200 only
S$10 Up to S$500 (in multiples of S$100)
S$50 Up to S$500 (in multiples of S$100)
Total amount capped S$1,200

UOB Pop-up ATMs

UOB will also be setting up pop-up ATMs across the country to better facilitate the exchange of new and Fit-for-Gifting banknotes.

There will be a total of 17 ATM locations (34 ATMs in total) available for the exchange of new and fit banknotes.

Customers can withdraw up to S$1,600, and there are six options available:

Package value Notes and denominations
S$100 S$2 x 50pcs
S$300 S$10 x 30 pcs
S$300 S$2 x 25 pcs + $10 x 25 pcs
S$500 S$50 x 10 pcs
S$800 S$50 x 16 pcs 
S$800 S$10 X 30 pcs + S$50 X 10 pcs

UOB Pop-up ATMs will be available from 24 January to 6 February 2024. Please refer to UOB’s website for the operating hours and locations of these ATMs.

Note that only two withdrawals may be made per ATM or debit card.

UOB EVOL Card Welcome Offer: Get S$350 Cash Credit as one of the first 200 new-to-UOB credit cardmembers with a minimum spend of S$1,000 per month for 2 consecutive months from card approval date. Valid till 30 April 2024. T&Cs apply.

 


OCBC, Standard Chartered, and Maybank

OCBC, Standard Chartered and Maybank are three more banks that will be offering new and fit banknotes.

However, you’ll have to first make an online reservation for the amount and denomination you need. In addition, you would need to submit the necessary details (mobile number, email address, branch details, time and date of collection).

Do note that these three banks will not be offering pop-up ATMs.

The reservation and collection details for each of the three banks are as follows:

OCBC Fit & New Bank Notes 2024

OCBC is the third local bank that will be offering both new and fit banknotes for the festive season. You may choose between online reservation and collection, or ATM withdrawals. Bank branch walk-ins without prior reservations are only available for persons aged 60 and above, or those with disabilities.

Online reservation and collection

There are two sessions available for online reservations and collection, as follows: 

 

Reservation

Collection date 

Session 1

17 – 20 January 2024

24 – 31 January 2024

Session 2

23 – 26 January 2024

1 – 9 February 2024

As with the other two banks, only one reservation is allowed, and no amendments may be made. 

Here’s how much you may exchange via online reservation – this is for Personal Banking customers. Premier and Premier Private customers may access higher withdrawal amounts

Types of notes Denominations Amount Options
New/Fit-for-Gifting notes S$2

Available in multiples of 100
S$200
S$10

Available in multiples of 10
S$500
S$50

Available in multiples of 2
S$1,200
Overall limit S$1,200

Selected OCBC ATMs

Alternatively, you may visit selected OCBC ATMs to withdraw new or fit notes. This is a new channel, offered only this year. 

Note that going this route will allow you to obtain up to S$1,800 worth of bank notes, higher than if you were to choose online reservation and collection. You may choose from the following packages:

Bundle

Value and denomination

Prosperity 

S$100 (S$2 x 50)

Harmony

S$300 (S$10 x 30)

Abundance

S$500 (S$50 x 10)

Strength

S$300 (S$2 x 25) + (S$10 x 25)

Luck

S$600 (S$10 x 20) + (S$50 x 8)

Success

S$440 (S$2 x 20) + (S$50 x 8)

There are a total of 11 locations you may make ATM withdrawals of fit or new notes from, as follows:

Location

Type of notes

OCBC Centre Branch

Fit notes

Wisma Branch

Fit notes

Hougang Mall Branch

New notes

Tampines Branch

New notes

Tiong Bahru Plaza Branch

New notes

Northpoint Branch

New notes

Compass One Branch

New notes

Bedok Branch

New notes

Jurong Point Branch

New notes

Ang Mo Kio Central Branch

New notes

Toa Payoh Central (offsite)

New notes

OCBC ATMs for new and fit notes are available from Monday to Sunday, from 9am to 6pm at the OCBC Centre Branch, and from 10.30am to 7pm at all other locations.


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Standard Chartered Fit & New Bank Notes 2024

Standard Chartered CNY Banknote Exchange

For 2024, Standard Chartered is offering walk-in banknote exchange for fit notes at all branches. No reservations are necessary. 

As for new notes, you can obtain them via online reservation and collection. Branch walk-ins for new notes are reserved to those aged 60 and above, or persons with disabilities only. 

Types of notes Denominations Amount Options
New notes S$2 Capped at S$400 (bundle of S$200)
S$5 Capped at S$400
S$10 Capped at S$1,000
S$50 Capped at S$2,000
Fit-for-gifting notes No reservation required. Can be exchanged from 24 January 2024 onwards at any Standard Chartered bank brunch.

 

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Maybank Fit & New Bank Notes 2024

Maybank is offering both new and fit notes for exchange, available to branch walk-in customers on a first-come, first-served basis from 24 January 2024 onwards at all Maybank branches (except Maybank MSpace).

Types of notes Denominations Exchange Limit
New notes S$2 up to S$200
S$10 up to S$300
S$5/S$50 up to S$1,000
Overall notes exchange limit per customer S$1,200

However, for new notes, an online pre-booking is required. You can reserve your Lunar New Year Fortune Bundle on Maybank2u Online Banking from 17 January, 6pm onwards, and each customer can reserve one Lunar New Year Fortune Bundle during the entire pre-order period. 

Each Lunar New Year Fortune Bundle comprises the following:

S$2 X 100 Total value S$1,200 (each customer is entitled to reserve one Fortune Bundle online)
S$10 X 100

Other banks to get new CNY banknotes

Besides the banks highlighted above, new and Fit-for-Gifting banknotes are also available at several other commercial banks

You can pay a visit to any of these banks with no reservations required, but note that you will be served on a first-come, first-served basis. 

Depending on your location and luck, you may be able to quickly zip in during lunch or after work to get your CNY banknotes without fighting the masses. Still, it might be useful to call ahead.

Here’s a complete listing of other banks to exchange your notes:

  • Bangkok Bank Public Company Limited
  • Bank of America, National Association
  • Bank of China Limited
  • Bank of India
  • PNB Paribas
  • Citibank
  • Deutsche Bank Aktiengesellschaft
  • Habib Bank Limited 
  • HL Bank
  • HSBC Bank (Singapore) Limited
  • Indian Bank
  • Indian Overseas Bank
  • Industrial and Commercial Bank of China Limited Singapore Branch
  • KEB Hana Bank
  • P.T. Bank Negara Indonesia (Persero) Tbk
  • RHB Bank Berhard 
  • State Bank of India
  • The Bank of East Asia Limited
  • UCO Bank

Things to note when exchanging CNY banknotes

No appointments needed for the elderly and persons with special needs

For individuals 60 and above, or persons with special needs, no reservations nor appointments are required. You may simply pay a visit to your nearest branch to exchange your CNY bank notes. 

It may be helpful to call ahead and check for any special arrangements that can let you skip the queue.

 

Book your slot early and be flexible 

Bank appointment slots are available on a first-come, first-served basis.

As a result, you could find yourself being locked out of your nearest bank branch, especially if it’s located in a busy precinct.

To heighten your chances of getting a spot at your desired branch, be sure to book your appointment as early as you can. 

Working with family members to keep your schedule open during this period can also help you secure a suitable appointment.  

 

Give sufficient lead time

Most banks will require at least two working days between the time you make your online reservation and your self-collection appointment. Also, collection may not be available on weekends and public holidays.

Be sure to plan ahead to allow yourself sufficient time to get your ang pows ready.

 

Bring identification and confirmation 

As cash is being collected, expect your bank to insist on collection in person (i.e., the person who made the online booking must be the one who collects the bank notes). 

Be sure to bring along your original identification, as well as any confirmation emails or notifications if applicable.

 

Have a backup plan

Due to the extremely high demand for new banknotes during CNY, banks are being extra strict. Reservations are restricted to one per account holder, and likewise for appointments.

Having a backup plan might be prudent, in case you fail to collect your bank notes as planned. 

If you choose to book a second appointment at another bank as a backup, be sure to cancel your appointment once you no longer need it so your place may be given to others. 

You may also try your luck at other banks (see the list above) which are also offering new or Fit-for-Gifting banknotes. 

Alternatively, take the eco-friendly, pandemic-cautious route and offer e-hong pows instead. That way, you won't have to worry about joining the queue for exchanging notes.

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Read these next: 
Li Chun 2024: Most Auspicious Timings to Deposit Money
CNY Red Packet Guide 2024: Rates, Etiquette And Everything You Need To Know
2024 CNY Decorations For As Low As $5
Financial Chinese Horoscope Reading For The Year Of The Dragon (2024)

An ex-Financial Planner with a curiosity about what makes people tick, Alevin’s mission is to help readers understand the psychology of money. He’s also on an ongoing quest to optimise happiness and enjoyment in his life.

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