Notes exchange service and electronic lai-see for Chinese New Year
As the Chinese New Year draws near, the Hong Kong Monetary Authority
(HKMA) and the three note-issuing banks (The Hongkong and Shanghai
Banking Corporation Limited, Standard Chartered Bank (Hong Kong)
Limited and Bank of China (Hong Kong) Limited) today (2 January)
announced that new notes and good-as-new notes, i. e. used notes which
are in good condition and suitable for use as lai-see, will be
available for exchange at branches of the three note-issuing banks
from 14 January (Tuesday) to 28 January (Tuesday).
The HKMA
encourages the public to use electronic channels including the Faster
Payment System available via online or mobile banking, or other
e-wallet services for giving lai-see. Giving electronic lai-see is
simple and convenient, and will contribute to sustainable development
by reducing the usage of physical red packets and banknotes. Major
banks and electronic payment operators will encourage giving
electronic lai-see by various promotional programmes. The public may
refer to the details of these programmes as and when announced by
banks and operators.
The three note-issuing banks will put in
place appropriate measures to facilitate the notes exchange,
including:
(1)
Advancing the opening hour to 8:00 a.
m. on the first 3 days of the service period, i. e. 14 January
(Tuesday) to 16 January (Thursday), and dedicating the aforesaid
additional operation hours, i. e. 8:00 a. m. to 9:00 a. m. ,
exclusively for providing the notes exchange service;
(2)
Offering online booking service for both new notes and good-
as-new notes starting from 7 January (Tuesday), details of which will
be announced by individual note-issuing banks within next week;
and
(3)
Putting in place crowd management measures
such as distributing physical tickets and implementing queue
management when needed.
Members of the public who desire to use
cash for giving lai-see may wish to check for any remaining stock of
new notes or good-as-new notes at home before going to a bank. Also,
there is no need to rush to exchange for new notes and good-as-new
notes during the first few days of the service period as banks will
ensure the supply of these notes throughout the service period. Hong
Kong Monetary Authority 2 January 2025