The Monetary Authority of Singapore (MAS) “strongly encourages” the public to go green and choose Fit notes or e-hong baos (e-red packets) for a greener Lunar New Year (LNY).
“More Singaporeans are opting for greener ways to celebrate LNY,” MAS said in a statement released on Monday (Jan. 19).
“A survey conducted by MAS last year found that 2 in 3 people were open to receiving Fit notes in their hong baos,” the statement added. “They shared that the condition of the notes did not matter and that Fit notes were as meaningful as new notes.”
Fit notes are used currency notes whose quality are similar in quality to those from ATMs.
Over 16 million pieces of Fit notes were exchanged at the banks in 2025, representing an increase of 40 per cent from the previous year.
This amounted to “emissions savings equivalent to the annual carbon footprint from powering 280 four-room HDB flats,” the statement added.
Ms Cindy Mok, Assistant Managing Director for Finance, Risk & Currency at MAS said the increase in Fit notes “is a very encouraging development that reflects the public’s growing acceptance towards sustainable gifting.”
“Together, we can contribute to a greener future, while keeping our cherished traditions alive.”
More pop-up and branch ATMs dispensing Fit notes will be available in various locations across Singapore this year for the convenience of the public.
Starting from Feb. 3, members of the public can exchange notes at bank branches, selected pop-up and branch ATMs of the 3 local banks or collect pre-booked notes at bank branches.
Customers of the three local banks, DBS, OCBC and UOB, who wish to exchange Fit or new notes at the bank branches need to make an online pre-booking through the banks’ official websites or mobile banking applications.
The pre-booking starts from Jan. 27.
Those above 60 years old or persons with disabilities will be exempted from pre-booking.
Customers of other banks may refer to the respective banks’ websites for details on Fit and new notes exchange.
Members of the public can visit www.go.gov.sg/usefitnotes for more information on Fit notes.
The statement also said that members of the public can also send e-hong baos to convey LNY greetings and blessings in a convenient and sustainable way, adding that “banks have improved their e-hong bao offerings with more features, including the greater personalisation of LNY greetings.”
MAS also reminded the public that banks will not send any SMS messages with clickable links to protect customers from phishing scams.
