MAS pushes e-hong baos for Lunar New Year

Clients who prefer physical notes will have to pre-order from their respective banks.

The Monetary Authority of Singapore (MAS) is encouraging customers to use e-hong baos for the upcoming Lunar New Year to reduce queues and promote environmental sustainability, a statement read.

This is a part of a larger shift towards e-gifting that the central bank and Association of Banks in Singapore (ABS) are promoting.

Members of the public, except those aged 60 and above and persons with disabilities, who prefer physical notes for Lunar New Year will need to make an appointment through their respective banks’ online reservation systems. New notes can also be withdrawn without a prior booking at pop-up ATMs offered by DBS.

DBS, OCBC, UOB, Maybank, and Standard Chartered will offer online reservations for new and good-as-new notes. The pre-order period will start from 18 January, whilst the collection for online orders, walk-in option for elderly aged 60 and above and persons with disabilities, and withdrawal at DBS’ pop-up ATMs will start from 25 January.

MAS is also pushing fintech firms to develop e-gifting solutions, with the most innovative receiving a special recognition at the Singapore FinTech Festival in November.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia