Brisk holiday demand for fresh banknotes

Eunice Lam

Long queues were seen at some branches of the three note-issuing banks for Lunar New Year lai see packets.

Some people said they have exchanged more new banknotes for handing out lai see this year as they expect to meet more relatives and friends after the city lifted Covid curbs.

Hongkongers can collect new banknotes or used ones in crisp condition at branches of HSBC, Standard Chartered, and Bank of China (Hong Kong) until January 21.

Branches will open at 8am today and tomorrow, with the first hour devoted exclusively to the banknote exchange service.

Some branches are offering designated lines for senior citizens and staff are giving out lai see envelopes.

A man named Mak said he arrived yesterday at HSBC's Mong Kok Branch at 6.30am to collect the new banknote bundle. "Of course, I will give out more lai see this year. We have not been paying relatives a visit for years," he added.

The banks are offering a new pack, which comprises 100 HK$20 bills and 20 HK$50 bills.

Each customer can reserve one pack of new banknotes, while there is no limit for the used one.

Customers can pre-order the new pack through online booking, however the quotas have already been filled.

Janet Pang Shuk-ching, head of HSBC wealth and personal banking, said the demand for new banknotes seemed more robust this year.

"Our bank saw double-digit growth of customers pre-ordering the banknote pack online. We have prepared more new banknotes than in previous years," she said.

When asked if people exchanged fewer notes this year due to the bad economy, Pang said the bank will know in the next couple of days.

HSBC launched a "lite" version of its mobile banking app in November, so that the elderly can reserve new banknotes in advance to avoid queuing.

Standard Chartered has encouraged customers to hand out electronic lai see as they expect many to travel overseas during the holidays.