Fresh Notes, Fresh Beginnings: Banks Begin Their Lunar New Year Services

These financial institutions are helping Malaysians uphold the time-honoured tradition of ang pow giving while carefully balancing tradition with sustainability.

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As Chinese New Year approaches, it’s time again to exchange new banknotes for red packets and embrace the feeling of renewal and fresh beginnings.

Banks have begun their annual banknote exchange services, marking the start of Chinese New Year preparations amid growing discussions about sustainable alternatives to traditional red packet customs.

Some banks are offering a combination of new and “good as new” banknotes.

Bank-by-Bank Guide: When and Where to Exchange

The first wave of banks launching services from 13 January:

AmBank
Hong Leong Bank
Affin Bank
RHB Bank
Maybank

Second wave from 15 January:

CIMB Bank
Public Bank
Alliance Bank (18 January)
Agrobank (22 January)

Online Reservations and Special ATM Services

Besides visiting special bank counters, people can exchange new notes through ATMs.

Meanwhile, UOB Bank has implemented an online reservation system for “fit-for-gifting” notes that meet Bank Negara Malaysia’s (BNM) quality standards.

Selected ATMs at four locations – Jalan Pudu, Kota Damansara, Jalan Othman, and Puchong – will dispense RM10 notes from 15 to 28 January.

At the same time, CIMB Bank will offer new RM10 notes at designated branches nationwide from 17 to 30 January.

Customers are advised to check their respective banks’ official websites for specific branch locations and ATM services or contact their local branches.

Red Packet Etiquette: From Amount to Symbolism

BNM and the Association of Banks in Malaysia have promoted e-ang pows as a sustainable alternative.

Nevertheless, exchanging fresh notes remains deeply ingrained in Chinese New Year celebrations.

The practice symbolizes renewal and fresh beginnings, though some banks now offer a mix of new and “good as new” notes to balance tradition with sustainability.

For friends and extended family members, RM10 to RM20 is the norm, while immediate family members usually receive more, depending on the couple’s budget.

Auspicious numbers are favoured, such as RM8 or RM9, as the word eight is a homophone for fortune, while nine is a homophone for longevity in a Chinese dialect.