New, 'good-as-new' notes for Chinese New Year available from Jan 29

New, 'good-as-new' notes for Chinese New Year available from Jan 29

Channel NewsAsia·2018-01-24 18:05

Residents queue to withdraw money from the pop-up ATMs. (Photo: DBS Group)

SINGAPORE: New notes and "good-as-new" notes, traditionally used for Chinese New Year, will be available from Jan 29 to Feb 15 at POSB pop-up ATMs.

Customers will be able to withdraw these notes at 36 ATMs in 27 community clubs, parent company DBS Group announced on Wednesday (Jan 24) in a news release. 

Last year, POSB set up 41 of such pop-up ATMs, but in fewer locations. 

The ATMs will be operational around the clock, apart from the one at Chong Pang Community Club, which will be available from 9am to 10pm daily.

POSB and DBS customers will be able to use their ATM cards to withdraw new notes in sums of S$100 (S$2 x 50), S$300 (S$10 x 30) and S$500 (S$50 x 10). For the first time, they will also be able to withdraw cash in sums of S$200 (S$2 x 100), S$300 (S$2 x 50 + S$10 x 20) and S$500 (S$10 x 20 + S$50 x 6), reducing the need for multiple transactions, DBS Group said. 

“Every year, our customers tell us that they want to spend less time queuing for their notes and more time with their loved ones. We have taken their feedback seriously, which is why we are introducing more pop-up ATM locations this year," said Mr Jeremy Soo, DBS' managing director and head of consumer banking for Singapore.

The machines have also been upgraded to hold more banknotes, Mr Soo added.

POSB and DBS customers can also reserve new and good-as-new notes online and choose a date to collect from full-service branches. The notes can be reserved at or from Jan 29 onwards.

Priority queues will be set up at full-service branches to cater to the elderly and those with special needs. Customers who withdraw or collect new notes at these branches and pop-up ATMs will also receive a set of either DBS or POSB red packets.


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Singapore Bank Money Chinese New Year