With the Chinese New Year celebration fast approaching, many Malaysians who are celebrating the festivity are on the hunt for new banknotes to fill out their ang pau (red envelope) packets. Giving out a physical ang pau is a tradition that many Malaysians still value as it symbolises prosperity and good luck, which is why there is a strong demand for new notes every year.
Despite the demand, many banks have slowed down circulation for new notes over the past few years, citing environmental issues and the lack of resources to print out new notes. To overcome this issue, banks have started issuing recycled notes that are still in good condition rather than freshly printed ones.
For this year’s CNY celebration, Maybank announced they are designating certain ATMs where customers can withdraw new banknotes from 2nd to 9th February. There will be 58 ATMs designated for customers to withdraw RM10 and RM50 notes. However, the notes are “recycled fit” banknotes rather than newly printed ones. According to the bank, this is to help promote sustainability and save resources. The maximum withdrawal limit is also generally set to RM300 to ensure wider availability of notes for all customers.
Through their Facebook page, Hong Leong Bank has also shared that they will be issuing new notes through their ATMs for Chinese New Year – but are also encouraging customers to give out e-ang pau instead. In a Facebook post, the bank advertised the e-ang pau feature in their HLB Connect app, calling it a greener alternative to distributing ang pau as e-ang pau is considered more environmentally friendly.
Despite the demand, no other banks have announced plans to distribute new notes for the upcoming CNY celebrations. Many locals have also said they will stick to giving out physical ones rather than opting for the digital alternative as it withholds traditions and is more enjoyable, especially for the younger generation.
Sources: Ringgit Plus (1)(2), Maybank, Hong Leong Bank
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