Crisp new banknotes about to be unrolled

It's time to get new orgood-as-newbanknotes for lai see red packets for the forthcomingLunar New Year at branches of the HSBC, Standard Chartered, and Bank of China (Hong Kong) from January 25 to February 9.

These branches of the three note-issuing banks will open at 8am between January 25 and 27, with the first hour exclusively devoted to the banknote exchange service.

Some branches are offering designated lines for senior citizens and will put in place crowd management measures such as distributing physical tickets and implementing queue management when needed.

All three banks will also offer online booking services for both new notes and good-as-new notes -- used ones in crisp condition and suitable for lai sees -- starting from January 18 (Thursday), which people can directly pick up at branches without queuing.

Account owners of HSBC can reserve a new or good-as-new banknote bundle worth HK$3,000 or HK$6,000 on the bank's mobile banking or website, where an SMS message will be sent as confirmation. Citizens can also pick up HK$20 and HK$50 good-as-new banknotes at designated automated teller machines in three HSBC branches in Mong Kok, Kwun Tong, and Tuen Mun Town Plaza as well as in the three HSBC mobile branches that will travel between 18 public housing estates across the city.

The Bank of China (Hong Kong) said people can reserve a "Standard Bundle of New Banknotes" worth HK$3,000, via the bank's website or mobile banking app. The pack includes 100 HK$20 notes and 20 HK$50 notes.

Apart from thematic electronic lai see packets on the bank's BoC Pay and mobile banking apps, the bank added citizens can now simultaneously send out 10 e-lai sees and can join the lucky draw to win up to HK$8,888 cash prize -- with more details to be announced soon.

Standard Chartered offers a total of three bundles of new or good-as-new banknotes, ranging from HK$1,000 to HK$4,000. Citizens can reserve beforehand on the bank's website starting at 9 am on January 18.

The Hong Kong Monetary Authority encourages the public to use electronic channels including the Faster Payment System 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," the authority said.

The authority added, that citizens 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. "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."