Lichun traditionally signifies the beginning of spring in East Asian cultures. Chinese New Year is celebrated around this time. Farmers often celebrate the beginning of Lichun with special village events, worship and offerings to the gods and ceremonies for a blissful and prosperous new year. In China, people eat chūnbǐng (春餅) on this day.
In Singapore, there is a practice of depositing money into bank accounts on Lichun which many believe will bring them good fortune.
This year, Li Chun falls on February 4, 2019. Based on your Chinese Zodiac sign, follow the most auspicious time to deposit your money to increase your luck cycle.
POSB new notes pop-up ATMs make highly-anticipated comeback – 36 machines will be rolled out across 27 community clubs islandwide Customers can also reserve CNY new notes and good-as-new notes through online reservation
SINGAPORE, 24 January 2018 – This Chinese New Year, DBS/POSB makes the withdrawal and collection of new and good-as-new notes a fuss-free experience with the return of POSB new notes pop-up ATMs and the rollout of an online reservation system on 29 January.
Starting Chinese New Year on the right note
To increase customer convenience, this year, POSB will roll out 36 new-notes ATMs in more locations – 27 community clubs islandwide, up from 22 in 2017. There will also be increased options to withdraw notes in different denominations. Similar to last year, customers will be able to use their DBS/POSB cards to withdraw CNY new notes in sums of SGD 100 (SGD 2 x 50), SGD 300 (SGD 10 x 30) and SGD 500 (SGD 50 x 10). The bank will also make available for the first time, the option to withdraw cash in sums of SGD 200 (SGD 2 x 100), SGD 300 (SGD 2 x 50 + SGD 10 x 20) and SGD 500 (SGD 10 x 20 + SGD 50 x 6), reducing the need for multiple transactions.
This is the fourth year in which DBS/POSB is partnering with People’s Association to roll out the new notes pop-up ATMs, a service which is highly popular among Singaporeans. In 2017, more than 110,000 customers made use of it, with the majority getting their notes outside of banking hours or over the weekends.
All new notes pop-up ATMs are accessible 24 hours daily, except for one located at Chong Pang Community Club, which will be available from 9am to 10pm daily. POSB ambassadors will be on hand to guide customers at various new notes pop-up ATM locations from 29 January to 14 February, 9am to 9pm.
Make an online reservation for CNY notes
DBS and POSB customers can choose from denominations of SGD 2, SGD 10 and SGD 50 via the online reservation system, and collect their new and good-as-new notes on their preferred dates and timings at all full-service branches. From 29 January onwards, customers can visit www.go.dbs.com/sg-cnynotes or www.posb.com.sg/cnynotes to reserve their CNY new notes.
Collect or exchange CNY notes at all DBS and POSB Full-Service Branches
At all full-service branches, special priority queues will continue to be available for the elderly and those with special needs. Customers will also be able to use the SMS ‘Q’ notification service option to request for a queue number via SMS prior to visiting the branch and receive notifications on the availability of new notes. They can find their nearest branch’s SMS number at www.dbs.com.sg/personal/deposits/bank-with-ease/sms-q.
Send eAng Baos with DBS PayLah!
As more Singaporeans spend Chinese New Year abroad1, DBS and POSB’s digital offerings have also grown in popularity. DBS PayLah! (go.dbs.com/PayLah), Singapore’s most popular mobile wallet with close to 800,000 users, has a special eAng Bao feature. The eAng Bao enables customers to carry on the tradition of red packet-giving with their families and friends even if they are apart. In particular, users who have loved ones working or travelling this festive season can send them an eAng-Bao via DBS PayLah! anytime, anywhere. The number of eAng Baos sent last year rose to a new high, being five times higher than that in 2016.
Skip the queues and deposit your money effortlessly
Customers who observe Li Chun, which falls on 4 Feb, can also conveniently deposit money into their bank accounts during their “lucky timings” via DBS PayLah!. Not only does this save them time, they also stand a chance to win SGD 88 when they make deposits to their accounts via DBS PayLah! on Li Chun. Customers who prefer to make cash deposits can access over 440 DBS/POSB machines with cash deposit functions islandwide. To find out where these machines are located, please visit www.dbs.com.sg/index/locator.page
Jeremy Soo, Managing Director and Head of Consumer Banking Group (Singapore), DBS Bank, said, “Every year, our customers tell us that they want to spend less time queuing for their notes and more time with their loved ones. We have taken their feedback seriously, which is why we are introducing more pop-up ATM locations this year. In addition, we have also upgraded our machines to hold more notes. The online reservation service as well as eAng Bao feature complement our physical channels.
We believe Li Chun is a mix of tradition and modernity, and our customers should not have to ‘work’ for luck and prosperity. We made it easier and more convenient for them to skip physical queues and instead, deposit money via DBS PayLah! during their auspicious hour. By creating hassle-free and convenient banking experiences for our customers, we hope to make festive banking simpler and faster, so that they can focus on the people who matter.”
DBS and POSB Red Packets
Customers collecting and withdrawing new or good-as-new notes at all DBS/POSB branches will receive two sets of either DBS or POSB red packets. Red packets will also be given to customers at the new notes pop-up ATMs.
Inspired by the ‘animoji’ trend, DBS’ mascots Xing and Jaan are now supersized, super cute, and super chic for 2018. Each mascot comes in two designs – with/without spectacles/sunglasses – so customers can customise their gifting. Made from paper sourced from sustainably-managed forests, each packet is wrapped with the DBS “Spark” overlay in gold to evoke the festive spirit.
The POSB red packets feature beloved mascot Smiley attired in an adorable onesie, with “pop-out’ fluffy ears when the envelope is closed.
DBS and POSB are offering a slew of exclusive deals for customers this festive season. For instance, customers stand a chance to receive SGD 88 cashback when they register and spend SGD 1,888 from 29 January – 5 March using their DBS/POSB cards*. They also stand to win SGD 88 when they send an eAng Bao from 25 January – 2 March or make a deposit into their accounts on Li Chun (4 February) with DBS PayLah!*. For more details on these promotions, please visit: https://www.dbs.com.sg/personal/cards/promotions/default.page.
Don’t miss: Get up to $500 ang pows for this Chinese New Year. Find out out here.
Customers can deposit funds during lucky timings via DBS PayLah! or avail themselves to over 350 DBS/POSB cash deposit machines islandwide
SINGAPORE, 1 February 2017 – On 3 February this year, also known as “Li Chun” on the Chinese calendar, Singaporeans will be able to make deposits to their bank accounts while on the go via their DBS PayLah! mobile wallets. Available to users from all Singapore banks, DBS PayLah! users can skip having to bank in cash physically on “Li Chun” and simply make electronic money deposits during their “lucky timings”.
Depositing on “Li Chun” with DBS PayLah!
Over the last few years, Singaporeans have taken to the practice of making cash deposits to their bank accounts on “Li Chun”. According to a guide put up by fengshui firm Chang Consultancy, different timings are advised for people to bank in money on 3 February based on their Chinese zodiac sign. This year DBS PayLah! users stand to win SGD 88 when they send an eAng Bao during this Chinese New Year, and double their chances when they deposit money into their bank account from their PayLah! wallet on “Li Chun” day. The draw is open to 100 lucky winners. New users also get SGD 5 when they download DBS PayLah! with the promo code ‘PAYLAHCNY’. For more details, please visit www.dbs.com.sg/personal/promotion/paylah-cny.
Mr. Jeremy Soo, Managing Director and Head of Consumer Banking Group (Singapore), DBS Bank, said, “We’ve been very encouraged by how quickly customers have come to embrace our alternative and digital channels for the Chinese New Year. Last year, customers were quick to take advantage of the convenience provided by DBS PayLah! during Li Chun, with the number of account deposit transactions spiking a whopping 47 times on that day. We also understand that this is the time when parents and younger customers start to deposit cash from their red packets. With this in mind, we have converted some of our popular new notes pop-up ATMs so they have now cash deposit functions, alongside our network of some 350 cash deposit machines. Our aim is to provide customers with more innovative and convenient options to help meet their banking needs during this festive season.”
POSB new notes pop-up ATMs converted to accept cash
Eight POSB new notes pop-up machines will also be converted to accept and dispense cash, and will be available for use in time for “Li Chun”. These eight machines will be located at eight community clubs – Toa Payoh West, Toa Payoh Central, Bedok, Yew Tee, Chong Pang, Henderson, Clementi and Jurong Spring. The machines in Toa Payoh West and Chong Pang will open from 9am to 10pm daily while the remaining machines in other locations will be fully operational round-the-clock – a key benefit to customers who wish to deposit their Chinese New Year funds. Customers can also avail themselves to over 350 DBS/POSB machines with cash depositing functions islandwide. To find out where these machines are located, please visit www.dbs.com.sg/index/locator.page.
Sending eAng Baos with DBS PayLah!
DBS was the first in Singapore to introduce eAng Baos via DBS PayLah! in 2015 and it was quickly adopted by users for the Chinese New Year season. The eAng Bao provides customers with a digital alternative that allows them to carry on the tradition of red packet-giving with their families and friends even if they’re apart. Last year, during the Chinese New Year season, some 20% of DBS PayLah! money sending transactions were in the form of eAng Baos. More eAng Baos are also used – up to 3.5 times as much – during festive seasons. The number of eAng Bao transactions last year also grew by 30% compared to 2015.
POSB new notes pop-up ATMs return to massive demand in 2017
This year, the POSB new notes pop-up ATMs saw a record number of transactions flow through averaging more than 22,000 transactions a day, some 67% higher than last year, and more than double than in 2015. Since its debut in 2015, the POSB new notes pop-up ATMs continue to see large increases in demand. The ATMs served more than 138,000 customers this year, 61% higher than last year. Total withdrawn amounts increased 80% this year with over 14 million in new notes issued, compared to 8.6 million for last year, and 6 million in 2015.
Last February 4, waves of people conquered queues at the banks and the cash deposit machines across the nation.
Why? You may promptly ask.
It is because practices of Li Chun (Farmer’s Day) fall on that day. Li Chun traditionally signifies the beginning of Spring in numerous Asian cultures including Singapore. On this day, farmers celebrate with special events, offerings, and rituals to welcome a successful and blissful new year.
While in recent years, some Singaporeans believed that banking in money on Li Chun can ensure good fortune and help grow their wealth. Furthermore, a superstition dictates that wearing a red top on this “auspicious” day can bring luck!
According to the charts available online, there are four two-hour windows designated for each individual to withdraw cash. The varied “lucky hours” are based on the person’s Chinese Zodiac Sign or the year they were born. This is why a number of brave souls were seen falling in a long queue for the whole course of the day.
Some banks and companies were aware of the popularity of this practice to the point that they have had things prepared beforehand. Two key players were United Overseas Bank (UOB) as well as DBS/POSB banks.
A spokesman for UOB shared that the bank had incorporated more services and staff to handle the higher demands of that day:
“Longer queues were seen at our cash deposit machines after 3pm, as it was the auspicious timing to usher in the year of the Monkey.
To ensure that our customers had a good customer experience, we catered for extra manpower at our branches, and also ensured that cash deposit machines were serviced and emptied to accommodate the extra volume of cash deposits.”
Then UOB stepped up their services by adding special seated queues for elderly, pregnant woman, and disabled.
On the other hand, about 10,000 DBS/POSB employees had their February salaries credited to their account last Thursday. According to Theresa Phua, DBS Bank Singapore Head of Human Resources, the bank had been crediting salaries before Chinese New Year in order for their valued employees to enjoy the festivities well.
The POSB red packets feature beloved mascot Smiley attired in an adorable onesie, with “pop-out’ fluffy ears when the envelope is closed.
Depositing on “Li Chun” with DBS PayLah!
Over the last few years, Singaporeans have taken to the practice of making cash deposits to their bank accounts on “Li Chun”. According to a guide put up by fengshui firm Chang Consultancy, different timings are advised for people to bank in money on 3 February based on their Chinese zodiac sign. This year 
