As of January 25, DBS / POSB customers can receive new and mint condition banknotes for the Chinese New Year (CNY) at additional locations across Singapore.
The bank is opening additional reservation spaces for exchanging new banknotes so that customers can continue to access new banknotes.
Branch walk-ins for withdrawing and exchanging new banknotes are only available to customers aged 60 and over and customers with disabilities.
All other customers must secure a place for these services via the DBS online reservation system before visiting a branch.
This year DBS / POSB is doubling the number of online reservation spaces to accommodate more customers. The special opening times for new banknotes for customers with reservation slots will also be extended from one hour per day to two hours per day.
The online reservation slots are organized according to two time windows, with the reservation periods starting on January 18th for the first window and on January 24th for the second.
The collection of new banknotes will then begin on January 25th or February 1st. To ensure that as many customers as possible can access the service, each customer has a maximum of one reservation space.
Customers can choose between S $ 2, 10 and 50 denominations and the preferred date, time and branch from which they wish to collect their new and mint condition CNY banknotes via the online reservation system.
To reserve a slot, you can visit https://go.dbs.com/sg-cny2021.
You can also withdraw new notes from ATMs
In order to avoid possible overfilling during the exchange period for new banknotes, DBS / POSB will continue to improve access to new banknote withdrawal services.
These CNY, 61 ATMs that dispense new and mint notes are available at 41 locations across the island. That includes 40 pop-up ATMs with new POSB banknotes in community centers, which have become a mainstay since their launch in 2015.
For the first time, DBS / POSB will also convert 21 existing ATMs in selected self-service branches to meet customer needs for new CNY banknotes. These 21 self-service contact points are used to pay out new and new banknotes in this CNY.
From January 25 to February 11 (CNY evening before), all 61 POSB ATMs and self-service contact points for new banknotes will be in operation daily from 10 a.m. to 10 p.m. (on February 11, from 10 a.m. to 1 p.m.).
Each customer is limited to three withdrawals during this period. Customers can purchase new bills of S $ 100 (2 x S $ 50), S $ 300 (10 x S $ 30), S $ 500 (50 x S $ 10) and S $ 600 (10 x S $ 20 + 50 x 8 S $).
To help customers avoid crowded areas, DBS / POSB has redesigned its new ATM card note locator to provide guidance on estimated waiting times at each location.
Here you can view the full list of POSB ATMs with new notes and self-service contact points.
Alternatively, customers can beat the queues for new CNY banknotes and exchange red packets using digital alternatives such as DBS QR Gift and DBS eGift.
Image credit: DBS
To use a DBS QR gift card, customers simply need to scan their QR code via DBS PayLah! To load the desired cash value, give it to a recipient for redemption via DBS PayLah! or PayNow.
DBS QR gift cards can be collected free of charge from January 11th in all DBS / POSB full-service branches and DBS Treasures Centers and from January 25th at POSB ATMs with new banknotes.
Customers can also send a virtual red parcel from the security and comfort of their home by tapping the “eGift” icon in DBS PayLah! App and indication of the preferred amount along with the preferred message, photo and animation.
"With the pandemic still posing a significant health risk, we continue to value the health and wellbeing of our customers and will take all necessary measures to ensure their safety," said Jeremy Soo, Head of Consumer Banking Group (Singapore) at DBS Bank .
“We also understand that CNY is a time of celebration and joy, and we are committed to ensuring that our customers can seamlessly and easily share new notes by introducing and intensifying more digital and physical access points for new notes our digital gift alternatives such as DBS QR Gift and DBS eGift. "
Selected image source: DBS