9 January 2023

DBS/POSB announces Chinese New Year services

DBS/POSB is bolstering its Chinese New Year (CNY) ‘phygital’ gifting services and rewards for customers to usher in the Year of the Rabbit. This CNY, customers will be able to:

- Order their DBS QR Gift cards (QR AngBaos) more simply via the bank’s digibot service and have them delivered to their doorsteps before CNY.

- Stand a chance to win a Tesla Model 3, among other new rewards such as cash rebates, should they switch to QR Gift and other DBS/POSB digital transactions.

- Obtain new and ‘Fit-for-Gifting’ notes1 (Fit notes) at 72 pop-up ATMs in DBS/POSB self-service branches and community centres2, up from 64 ATMs this year. These pop-up ATMs are in addition to the current network of over 1,200 DBS/POSB ATMs where customers can withdraw cash round-the-clock.

- Get more options on the combination of notes they want to reserve in S$10 and S$50 dollar note denominations. For example, customers can now reserve notes in batches of S$100, up to S$500.

Jeremy Soo, MD and Head of Consumer Banking Group (Singapore), DBS Bank said, “It is particularly heart-warming when generations reunite to celebrate culture and tradition. Chinese New Year is symbolic of this, and we are especially heartened that our ‘phygital’ and eco-friendly gifting solutions can cater to our customers’ needs during this special occasion. As we continually innovate to enhance customer experience, we remain committed to preserving the values, customs, and time-honoured traditions that our customers hold dear.” 

Digital gifts

The complimentary DBS QR Gift order and delivery service for both DBS/POSB and non-bank customers is back by popular demand – now enhanced for a simpler and smoother ordering process via the bank’s chatbot, digibot. From now till 12 January, customers can simply place their orders via digibot and the cards will be mailed to them for free by 20 January.

Customers have increasingly been switching to the bank’s digital gifting solutions, DBS QR Gift (QR AngBao) and eGift (eAngBao), DBS said. In CNY 2022, customers gifted S$100 million in angbaos through DBS QR Gift, six times the amount in 2019 when DBS QR Gift was first launched. In the same period, the number of QR Gifts redeemed tripled. Customers are also increasingly comfortable with exchanging eGifts, with the average amount per eGift continuing to rise some 15% year-on-year to S$68 in 2022. Employers too are increasingly going digital during CNY 73 companies gifted their employees DBS QR Gift cards in 2022, which was double that of the year before.

Companies that have pledged to gift their employees and other stakeholders DBS QR Gift cards for CNY 2023 have loaded more than 56,000 cards to date, which is more than double the cards loaded for CNY 2022. For instance, Ng Nam Bee Marketing is currently running a sure-win cash lucky draw, where customers receive a DBS QR Gift card with every purchase of a packet of Flying Man Fragrant Rice. The cards have been loaded with values from S$1 to S$3,888, and have to be redeemed via DBS PayLah! or PayNow by 28 February 2023.

Digital gifts details

Place an order for DBS QR Gift cards: https://go.dbs.com/sg-qrgift. DBS QR Gift cards will also be available at all DBS/POSB full-service branches and pop-up ATMs, and at all Sheng Siong outlets from 5 January.

Lucky draw

To reward customers who choose to go green and switch to digital transactions or go cash-free this CNY, the bank will be giving away one Tesla Model 3 car as part of the DBS Cashless Lucky Draw.

DBS/POSB customers will be able to earn lucky draw chances when they use DBS QR Gift card, DBS eGift, or DBS Remit up to 31 March3. Fifty additional bonus chances will be awarded to customers who do not make any cash withdrawals in the same calendar month, while those with a DBS Multiplier account can earn double the number of chances when they do not withdraw cash, as well as make qualifying DBS QR Gift, eGift or DBS Remit transactions. The lucky draw will be conducted on 28 April 2023.

In addition, 1,000 eligible users who obtain the highest transaction counts of DBS QR Gift and eGift from 3 January to 5 February will stand to earn S$18 cashback.

Lucky draw details 

Read the terms and conditions for the lucky draw

Lucky draw period

  Qualifying transaction

Draw chances for DBS Multiplier customers

Draw chances for all other DBS/ POSB customers

3 January – 31 Mar 2023

Eligible customer loads and gives a DBS QR Gift Card/ eGift of at least S$6 to another unique customer who redeems or receives it during the period

Earn two chances for every QR Gift Card or eGift sent to a unique customer

Earn one chance for every QR Gift Card or eGift sent to a unique customer

Eligible customer successfully transfers a min. of S$200 or its equivalent using DBS Remit service during the period

Earn two chances for every DBS Remit transaction made

Earn one chance for every DBS Remit transaction made

Eligible customer makes no local cash withdrawals during the period

Earn extra 100 chances per calendar month

Earn extra 50 chances per calendar month

Collection of notes for angpao

This year, customers will be able to withdraw new notes and Fit notes5 at 72 pop-up ATMs – up from 64 ATMs last year – across 47 locations. This service will be available from 10 am to 10 pm daily till 20 January, and from 10 am to 1 pm on 21 January (CNY eve). POSB service ambassadors will be on hand at all 47 locations to assist customers during operational hours, and each customer will be limited to three withdrawals of new and Fit notes throughout this period. 

DBS/POSB’s pop-up ATM map locator provides location details of all pop-up ATMs. Updates on estimated queue times at each location are also available. 

 This year, the bank is enhancing its online reservation and notes collection services in response to customer feedback. Customers who reserve their notes online now have more options4. To better cater to seniors who reserve their notes online, five collection slots will be set aside for them every hour per DBS/POSB full-service branch, during branch operating hours. 

In line with the nation’s ongoing efforts to safeguard the health and safety of those who may be more vulnerable to Covid-19, new and Fit notes withdrawal and exchange services via walk-in visits at branches will be restricted to customers aged 60 and above, as well as customers with disabilities. All other customers will need to book a slot online via DBS’ notes reservation system online indicating their preferred branch, date and time of collection, as well as the quantity of QR Gift cards and new and Fit notes in respective denominations they would like. 

Two reservation and collection windows will be available this year and each customer will be given one reservation slot throughout CNY.  

Notes collection details

Reserve a slot 


Source: DBS. Online reservation and collection windows for notes.

DBS/POSB will be extending its suite of DBS PayLah!, POSB Everyday Card and PAssion POSB Debit Card deals and cash rebates on everyday essentials such as groceries, utilities and transport till 31 January 2023.

"We understand that the rising cost of essentials may dampen the festive mood for many. Encouraged that our customers have benefitted from the slew of offerings rolled out over the past few months to help manage growing expenses due to inflation, we now want to continue enabling more customers with options that can help them save as they spend on essentials, so that they can celebrate a worry-free CNY,” Soo shared.

1 https://www.mas.gov.sg/news/media-releases/2022/go-green-with-fit-for-gifting-notes-and-e-hong-baos

2 https://www.dbs.com/pop-up-atm/index.html

3 Refer to section on digital gifts.

4 Customers will be able to reserve S$10 and S$50 denominations in amounts of S$100, $200, $300, $400 and $500 in 2023. In previous years, they could only reserve notes for one amount, S$500.

5 Customers can withdraw cash in lots of S$100 (50 S$2 notes), S$300 (30 S$10 notes), SG$500 (10 S$50 notes) and S$600 (20 S$10 notes plus eight S$50 notes).

6 https://www.mas.gov.sg/news/monetary-policy-statements/2022/mas-monetary-policy-statement-14oct22

7 Social media accounts will need to be set to public for at least three days upon posting, in order for POSB to capture participation and contribute donations thereafter.

 

  Booking period

  Collection period

Window 1

  5 January 2023 – 8 January 2023

  10 – 13 January 2023

Window 2

  9 January 2023 – 15 January 2023

  16 – 20 January 2023

Source: DBS. Red packets for 2023.
Source: DBS. This year’s red packet design is inspired by the anticipation of reuniting with families, friends and loved ones after a two-year break due to the pandemic restrictions. Themed More like a family reunion, Less like a bank, the interior of each red packet reveals a family of nine celebrating together. 

In line with DBS’ commitment to sustainability, the red packets and the sleeves that hold each bundle of eight packets are once again made of environmentally-friendly paper and printed using soy-based ink, which enables easy recycling and encourages a circular economy. Customers can obtain these red packets, as well as DBS QR Gift cards, at DBS/POSB branches or POSB pop-up ATMs. 

 Recycling bins for used red packets and DBS QR Gift cards remain available year-round at DBS/POSB full-service branches to encourage the recycling of used packets for all festive occasions, including weddings, Hari Raya and Deepavali.