From 25 January, DBS/POSB customers will be able to obtain new and good-as-new notes for Chinese New Year (CNY) at more locations across Singapore. Bearing in mind the Covid-19 safety measures in place, the bank will also open up more reservation slots for new notes exchange so customers can still access new notes services.
Jeremy Soo, Head of Consumer Banking Group (Singapore), DBS Bank said, “With the pandemic still posing a significant health risk, we continue to prioritise the health and well-being of our customers and will implement all necessary measures to ensure their safety. We are also mindful that CNY is a time of celebration and joy, and are committed to ensuring our customers enjoy a seamless and hassle-free new notes exchange experience with us by rolling out more new notes digital and physical access points, and stepping up on our digital gifting alternatives such as the DBS QR Gift and DBS eGift.”
Online reservation slots to be doubled this CNY
In line with Covid-19 guidance from the Monetary Authority of Singapore (MAS), branch walk-ins for new notes withdrawal and exchange services will be restricted to only customers aged 60 and above, and customers with disabilities. All other customers will need to secure a slot via DBS’ online reservation system prior to visiting a branch for these services.
DBS/POSB will double the number of online reservation slots this CNY to accommodate more customers. Dedicated new notes collection hours for customers with reservation slots will also be extended to two hours per day, up from one hour per day.
The online reservation slots will be organised by two timing windows, with reservation periods commencing on 18 January for the first window and 24 January for the second. Collection of new notes will then begin on 25 January and 1 February respectively. To ensure as many customers as possible are able to access the service, each customer will have a maximum of one reservation slot.
| Reservation period | Collection period | Remarks | |
| Window #1 | 18 Jan – 23 Jan | 25 Jan – 29 Jan | Reservations must be made at least two days before collection date, e.g.: If you reserve a slot on 26 Jan, your earliest available collection date will be on 28 Jan. |
| Window #2 | 24 Jan – 5 Feb | 26 Jan – 10 Feb |
Customers will be able to choose from denominations of SGD 2, SGD 10 and SGD 50 via the online reservation system, as well as their preferred date, timing and branch from which to collect their new and good-as-new CNY notes. To reserve a slot, visit https://go.dbs.com/sg-cny2021.
61 POSB new notes ATMs and self-service touchpoints, across 41 locations island-wide
To prevent potential crowding during the new notes exchange period, DBS/POSB will further boost access to new notes withdrawal services. This CNY, 61 ATMs disbursing new and good-as-new notes will be available across 41 locations island-wide – up significantly from last year’s 40 ATMs across 20 locations. This includes 40 POSB new notes pop-up ATMs, which have become a CNY mainstay since their introduction in 2015. DBS/POSB is the sole bank to provide this service, which has been highly popular with customers – over 450,000 transactions were processed at POSB new notes pop-up ATMs last year.
For the first time, DBS/POSB will also be converting 21 existing ATMs across select self-service branches to service customers’ needs for CNY new notes. These 21 self-service touchpoints will be dedicated to disbursing new and good-as-new notes this CNY.
From 25 January to 11 February (CNY eve), all 61 POSB new notes pop-up ATMs and self-service touchpoints will be operational from 10am to 10pm daily (10am to 1pm on 11 February). Each customer is limited to three withdrawals throughout this period. Customers will be able to withdraw new notes in sums of SGD 100 (SGD 2 x 50), SGD 300 (SGD 10 x 30), SGD 500 (SGD 50 x 10) and SGD 600 (SGD 10 x 20 + SGD 50 x 8).
To help customers avoid crowded areas, DBS/POSB has revamped its new notes ATM map locator to include guidance on estimated wait times at each location. Please click here to view the full list of POSB new notes pop-up ATMs and self-service touchpoints:https://www.dbs.com/pop-up-atm/index.html
DBS/POSB CNY 2021 red packets
This year’s red packet design seeks to inspire all to look forward with hope and optimism for a brighter year ahead and highlights the Chinese word ‘新’ (new) in representation of the new possibilities to come. Each red packet contains an inspirational quote and can be upcycled into a gift card. Starting 25 January, customers can obtain DBS/POSB red packets at DBS/POSB branches or POSB new notes pop-up ATMs[1].
Go contactless with digital gifting alternatives: DBS QR Gift and DBS eGift
Despite the pandemic, customers can still safely carry on with the long-held festive tradition of exchanging red packets by opting for DBS’ digital gifting alternatives this CNY!
Customers can beat the queues for CNY new notes and enjoy contactless, hassle-free gifting with digital alternatives such as the DBS QR Gift and DBS eGift. Hosted on DBS PayLah!, one of Singapore’s most popular mobile platforms with over 1.8 million users, the DBS QR Gift and DBS eGift serve as safer, more convenient and sustainable alternatives to new notes. Customers can also avoid the hassle of queueing for new notes, freeing themselves up to prepare for the festivities.
- DBS QR Gift marries technology with the meaningful CNY tradition of red packet exchange. To use a DBS QR Gift card, customers simply need to scan its QR code via DBS PayLah! to load their desired cash value, then gift it to a recipient for redemption via DBS PayLah! or PayNow. DBS QR Gift cards can be collected for free at all DBS/POSB full-service branches and DBS Treasures Centres starting 11 January, and at POSB new notes pop-up ATMs starting 25 January.
- DBS eGift is a fully digital way to gift. Customers can send a virtual red packet from the safety and comfort of their homes by tapping on the ‘eGift’ icon in the DBS PayLah! app and indicating their preferred amount, along with their preferred message, photo, and animation.
For more details on DBS’ digital gifting alternatives, visit:https://go.dbs.com/sg-qrgift
Recycle used red packets and DBS QR Gift cards at DBS/POSB branches all year round
In line with DBS’ commitment to sustainability, customers are encouraged to drop off their used red packets and DBS QR Gift cards at DBS red packet recycling bins, located at all DBS/POSB full-service branches. The recycling bins are available all year round so customers can also recycle used packets and DBS QR Gift cards from other festive occasions such as Hari Raya and Deepavali, or special occasions such as weddings and birthdays.
DBS was the first bank in Singapore to launch a dedicated red packet recycling initiative in 2019, in partnership with Tay Paper Recycling. Since then, some 12,500 kg worth of red packets have been saved – equivalent to 210 trees. For information on DBS/POSB branch locations, visit https://www.dbs.com.sg/index/locator.page
[1] Red packets will not be available at self-service touchpoints.
About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 12 consecutive years from 2009 to 2020.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 29,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.
