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Singapore encourages using old banknotes, digital red envelopes during Lunar New Year

MAS said a 2025 survey found that two in three people were willing to receive Fit notes in their red envelopes, which are traditional gifts of money given during auspicious occasions such as the Lunar New Year.

Singaporean dollar banknotes withdrawn from an ATM (Photo: AFP/VNA)
Singaporean dollar banknotes withdrawn from an ATM (Photo: AFP/VNA)

Hanoi (VNA) – The Monetary Authority of Singapore (MAS) on January 19 launched an innovative initiative that blends tradition with environmental protection, encouraging people to use circulated currency notes, known as "Fit Notes", as a more sustainable option for giving lucky money in the upcoming Lunar New Year festival.

According to MAS, "Fit notes" are pre-used notes similar in quality to those from ATMs. Even if the notes may have fold lines or minor stains, their value and meaning remain unchanged—they still serve as lucky gifts full of Lunar New Year spirit.

MAS said a 2025 survey found that two in three people were willing to receive Fit notes in their red envelopes, which are traditional gifts of money given during auspicious occasions such as the Lunar New Year, and that respondents felt the condition of the notes did not matter and that Fit notes were as meaningful as new notes.

To support the public, MAS has also planned to deploy mobile ATMs and bank branches offering “Fit notes”. Starting January 27, customers of major banks will be able to easily reserve these notes online, making Lunar New Year preparations more convenient than ever.

Besides Fit notes, members of the public can also send "e-hong baos" to convey greetings and blessings in a convenient and sustainable way, MAS said./.

VNA
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