As Chinese New Year approaches, the excitement of festive preparations is in full swing—think of it as the Super Bowl for families in Singapore, but instead of touchdowns, people are scoring hongbaos!
These little red packets filled with cash are not just symbols of prosperity and blessings; they’re the ultimate currency of good luck.
However, this year, the Monetary Authority of Singapore (MAS) wants to sprinkle a little eco-friendly magic into our celebrations by promoting “fit notes.”
So, what are these so-called Chinese New Year fit notes, and why should you care? Imagine them as the “second-hand” chic of banknotes—clean, crisp, and ready to spread good vibes without leaving a hefty carbon footprint. They’re like the thrift store finds of the monetary world: stylish enough for gifting but with a backstory that says, “I care about the planet.”
Just think about it: you can give your relatives luck and prosperity while saving Mother Earth from more paper waste. Who knew that being generous could also make you a green hero?
Why Chinese New Year Fit Notes Matter
Giving fit notes instead of new ones isn’t just about keeping your wallets full of pretty cash—it’s about making a real impact on the environment. Producing brand-new notes for Chinese New Year comes with a hidden cost: carbon emissions.
In fact, MAS reported that over 11.7 million fit notes were exchanged last year, saving approximately 408 tonnes of CO2 emissions—equivalent to powering around 220 four-room HDB flats for an entire year.
Source: MAS
By choosing Chinese New Year fit notes, you continue the tradition while also teaching your children the importance of sustainability. Plus, fit notes undergo quality checks with banknote processing machines, so they’re practically indistinguishable from new notes.
How to Get Your Hands on Chinese New Year Fit Notes
Starting from January 7, DBS, OCBC, and UOB customers can begin booking their Chinese New Year fit notes online through the banks’ official websites or mobile apps. Once booked, you can collect your festive cash from January 14 onwards at the respective bank branches.
Want more convenience? DBS, OCBC, and UOB will be deploying additional pop-up and branch ATMs dispensing fit notes across Singapore. DBS alone will have 72 pop-up ATMs at 48 locations, while OCBC will have 24 ATMs at 13 locations. UOB will set up 30 ATMs across 17 locations.
To avoid unnecessary crowds and long queues, you can even check real-time wait times for certain DBS ATMs online. Talk about festive planning made easy!
Who Can Walk In for Fit Notes?
While most customers are required to pre-book their Chinese New Year fit notes online, some groups can still walk in for exchanges. Those aged 60 and above, as well as persons with disabilities, can head straight to DBS, OCBC, and UOB branches from January 14 onwards to exchange old notes for fit or new ones.
For everyone else, pre-booking is mandatory. Remember, MAS has reminded the public to stay vigilant against phishing scams—banks will not send clickable links via SMS, so only use official websites and apps for bookings.
Digital Hongbaos: The Greener Alternative
If you want to go fully green this Chinese New Year, consider sending digital red packets, or e-hongbaos, instead of physical notes. They carry the same festive spirit but without the environmental impact. Plus, most banks have made them more personal, with customizable greetings to make your wishes feel extra special.
Last year, nearly two-thirds of hongbao givers opted for fit notes or digital hongbaos—a clear sign that Singaporeans are embracing more sustainable traditions.
Source: The Straits Times
Ms Cindy Mok, Assistant Managing Director (Finance, Risk & Currency), MAS, said, “We are heartened that more and more Singaporeans are adopting greener options by using Fit notes or e-hong baos for festive gifting. This coming Lunar New Year, let us encourage more of our family and friends to do so. Together, we can contribute to a greener tomorrow, while preserving our Lunar New Year customs.”
More ATMs, More Convenience
Worried about long queues during the festive rush? MAS and the major banks have got you covered with an expanded network of pop-up and branch ATMs. Here’s a quick breakdown:
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DBS: 72 pop-up ATMs at 48 locations, with a 50% increase in ATMs dispensing fit notes this year. Open daily from 10am-10pm and shorter hours on the eve of Chinese New Year.
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OCBC: 24 ATMs at 13 locations, with fit notes available at 4 ATMs—up from 2 last year.
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UOB: 30 ATMs at 17 locations, with 4 ATMs dedicated to fit notes, double the number from last year.
The Bigger Picture: Why Sustainability Matters
While Chinese New Year fit notes might seem like a small change, their impact adds up.
1. Small Changes, Big Impact
While it may seem like a minor tweak to your festive routine, opting for fit notes can lead to substantial environmental benefits. Last year, Singaporeans saved emissions equivalent to powering 220 homes simply by choosing these recycled notes over brand-new ones. Who knew that spreading good fortune could also mean saving the planet?
2. Teaching Sustainability Through Tradition
Incorporating fit notes into your Lunar New Year celebrations is a fantastic way to teach children about sustainability. It’s not just about cash; it’s about instilling values that will last a lifetime. Plus, you get to keep the festive spirit alive while being eco-conscious—talk about a win-win!
3. Waste Not, Want Not
By choosing fit notes, you’re cutting down on unnecessary waste associated with traditional red packets. These notes are as clean and lucky as their fresh-off-the-press counterparts but come without the guilt of contributing to environmental harm. It’s like giving your loved ones a gift that keeps on giving—good vibes and a greener future!
4. Join the Green Revolution
This Lunar New Year, join the movement towards sustainability! By embracing fit notes and e-hong baos, you’re not just following tradition; you’re actively participating in a larger effort to create a more sustainable world. So go ahead—spread those blessings with a side of eco-friendliness!
Ready to Make the Switch?
This Chinese New Year, you have the power to make a difference. By choosing Chinese New Year fit notes or going digital with e-hongbaos, you’re not only embracing tradition but also protecting the environment for future generations.
Start planning your festive gifting today—pre-book your fit notes online starting January 7 and make this Lunar New Year a greener, more meaningful celebration. After all, isn’t prosperity best when shared with the planet too?
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