S’poreans Encouraged to Give E-Ang Paos for CNY to Reduce Queues For Physical Notes
There is always been a tradition to give out new notes which leads to another newer practice of queuing up at ATMs to withdraw them. However, this tradition is now being discouraged due to the Covid-19. The authorities has urged Singaporeans to give out e-ang paos instead where it will help to reduce the queues for physical notes.
As E-gifting will be promoted this CNY by the Monetary Authority of Singapore (MAS) on a media release on Monday, 11 January. The upcoming CNY will also be their first where large gathering of people at homes won’t be allowed which means that we may not be able to meet up as many as relatives as before.
Giving e-ang paos not only helps reduce crowds queuing at ATMs. The practice also has a 2nd benefit: It’s environmentally friendly. However, for many Singapore, physical notes are still king thus banks are still allowing us to collect new notes, but an appointment must be made from 18 January if you are doing at 3 local banks which are DBS Bank/POSB, OCBC Bank and United Overseas Bank (UOB). Seniors aged 60 and above and the disabled won’t have to pre-book. They can just walk in the banks for new notes starting from 25 Jan.
2 other foreign banks will also offer the pre-booking services which are Maybank and Standard Chartered Bank. Lastly, for those who prefer to withdraw new notes from ATMS at their own conveniences they can do so like previous years when the withdrawals at DBS’ pop up ATMs will start on 25 January.
