People queueing to use POSB ATMs at Toa Payoh Hub on Jan 12, 2022. ST PHOTO: JASON QUAH

People queue to use POSB ATMs at Toa Payoh Hub on Jan 12, 2022. ST PHOTO: JASON QUAH

SINGAPORE - Long queues of mostly elderly people were seen outside banks and pop-up ATMs for the collection of new dollar notes ahead of the Chinese New Year which falls on Feb 1.

The queues come even as the Monetary Authority of Singapore and the Association of Banks in Singapore encouraged Singaporeans in December to opt for e-hongbao this Chinese New Year.

But some believe that exchanging new notes during the festive period is an important part of tradition.

When The Straits Times visited the DBS branch at Lorong 6 Toa Payoh on Wednesday (Jan 12) morning, around 40 people were in queue.

Mr Chan Kee Heong, 76, who arrived at 6am, said: "I wouldn't say that I'm queuing for myself, but rather for the younger generation. I want to make them happy by giving them new notes in their hongbao."

The retiree was subsequently given a queue slip and asked to return by 9.30am.

DBS said on its website that it would carry out new notes exchange services only for customers who have made online reservations. It added that walk-ins are allowed for seniors aged above 60 and those with disabilities.