SINGAPORE, Jan. 19– The Monetary Authority of Singapore (MAS) on Monday encouraged the public to use circulated currency notes, known as “Fit notes,” which are pre-used notes similar in quality to those from ATMs and may have fold lines or minor stains, as a more sustainable option for the Chinese New Year.
The MAS said a 2025 survey found that two in three people were willing to receive Fit notes in their red envelopes, or “hong baos,” which are traditional gifts of money given during auspicious occasions such as Chinese New Year, and that respondents felt the condition of the notes did not matter and that Fit notes were as meaningful as new notes.
This year, more pop-up and branch ATMs across Singapore will dispense Fit notes, the MAS added. Customers of major banks will also be able to pre-book notes online starting Jan. 27.
“Besides Fit notes, members of the public can also send e-hong baos” to convey greetings and blessings in a convenient and sustainable way, the MAS said.
As digital gifting continues to grow, banks have enhanced their e-hong bao services, adding features such as personalized greetings for the festival, it added. (Namibia Daily News/Xinhua)
