Chinese New Year (CNY) 2025 is right around the corner, and many of us are preparing for the festive season by giving out angbaos (red packets). One of the most important aspects of this tradition is ensuring you have the right currency notes for gifting. In 2025, OCBC Bank is offering customers the opportunity to pre-book new or fit notes for the CNY season. This blog will provide you with all the information you need to know about OCBC’s new notes for CNY 2025, including the pre-booking process, collection details, and the importance of fit notes for sustainability.
Why Pre-Book New Notes for CNY 2025?
With the upcoming Chinese New Year festivities, it’s a good idea to prepare early. Pre-booking allows you to secure the new or fit notes you need for gifting. Here are a few reasons why pre-booking is essential:
Guaranteed Availability: By pre-booking, you ensure that the specific denominations you need will be available.
Convenience: Avoid long queues by scheduling your collection time in advance.
Flexibility: Pre-booking offers the option to choose from new or fit notes, making it easier to cater to your gifting needs.
What Are Fit Notes and Why Are They Important?
Fit notes are used currency notes that are still in excellent condition for gifting purposes. They are typically notes withdrawn from circulation but are still clean and usable. Here’s why fit notes are valuable for both you and the environment:
Good Quality: Fit notes have been verified through banknote processing machines to meet quality standards for recirculation, making them ideal for gifting.
Eco-friendly: Using fit notes reduces the need for printing new notes, thus cutting down on carbon emissions. Last year, nearly two-thirds of angbao givers opted for fit notes, saving significant environmental impact.
How to Pre-Book New or Fit Notes with OCBC for CNY 2025
OCBC customers can easily pre-book new or fit notes starting January 7, 2025. The process is simple:
Log in to OCBC’s Online Banking: Visit OCBC’s website or mobile banking app.
Select Your Desired Denominations: Choose from various denominations like S$2, S$10, S$50, etc.
Reserve Your Notes: Complete the online reservation process.
Confirmation: Once your booking is confirmed, you’ll receive instructions on when and where to collect your notes.
Collection: You can pick up your pre-booked notes from your preferred OCBC branch starting from January 14, 2025.
Who Can Access the Walk-in Exchange Option at OCBC?
OCBC is also offering a walk-in exchange for customers who prefer not to pre-book their notes. However, this service is specifically for:
Senior Citizens: Customers who are 60 years old and above can visit the bank branches to exchange notes without pre-booking.
Persons with Disabilities: This option is also available for people with disabilities, making it more inclusive for all customers.
It’s important to note that this walk-in service may have limited availability and is only applicable at specific locations. Therefore, pre-booking is the most efficient way to secure your notes.
Collection Locations and Process
For those who pre-book their notes, OCBC offers several collection methods:
Bank Branch Collection: Pre-booked notes can be collected from selected OCBC branches starting from January 14, 2025. You can choose a branch that’s most convenient for you when completing the online booking process.
ATMs: OCBC also provides selected ATMs where customers can withdraw fit or new notes starting January 14, 2025. There is no need to pre-book for ATM withdrawals.
Sustainability Efforts with Fit Notes
The Monetary Authority of Singapore (MAS) is encouraging customers to use fit notes as part of their efforts towards sustainability. Here’s why it matters:
Reducing Emissions: Issuing excess new notes creates unnecessary carbon emissions. By opting for fit notes, you contribute to reducing the environmental impact.
Better Resource Management: Using fit notes ensures that the lifecycle of currency notes is maximized, reducing waste.
E-Angbaos: MAS also encourages digital angbaos (e-angbaos) to further promote sustainability. In fact, last year, nearly two-thirds of the angbao-giving public chose fit notes over new ones.
Other Banks Participating in CNY 2025 Pre-Booking
OCBC is not the only bank offering pre-booking options for CNY 2025. Other major banks in Singapore are also participating in this service:
DBS and UOB: Both banks will also start online pre-booking for new and fit notes from January 7, 2025.
Standard Chartered, Maybank, CIMB: These banks will also require online pre-booking for note exchanges ahead of the festive season.
Make sure to visit the respective bank’s website for specific instructions regarding pre-booking and collection.
Conclusion: Get Ready for a Green and Convenient CNY 2025
OCBC’s pre-booking service for new and fit notes is a convenient and eco-friendly way to prepare for Chinese New Year 2025. By reserving your notes in advance, you can avoid the hassle of last-minute transactions and contribute to a sustainable celebration. Whether you choose to pick up your notes at the branch, use fit notes, or even try out digital angbaos, this year’s CNY gifting is more accessible and environmentally responsible than ever. Happy preparations for a prosperous and green Chinese New Year 2025!
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