Banks, MAS urge switch to e-hongbao

Message this year to encourage safe-distancing, along with added experiences on electronic transfer platforms

Published Sat, Jan 16, 2021 · 05:50 AM

Singapore

POPPING open a bright-red hongbao and pulling out crisp new bank notes has been a traditional Chinese New Year (CNY) experience for many people across Singapore, but that's due to change this year.

As Phase 3 of Singapore's reopening remains in effect, groups will need to limit themselves to eight people for social gatherings, or eight visitors to a household at a time.

Long queues at banks to collect new notes might also pose a higher risk of exposure to the virus. So, banks have had to create a mix of options to accommodate safe-distancing and manage crowds at branches.

DBS, OCBC, and UOB are implementing compulsory pre-orders of bank notes online, except for those aged 60 and above and persons with disabilities, who will be allowed to walk in. OCBC will be deploying more staff to m…