During Chinese New Year, Hong Kong Monetary Authority and three note-issuing banks offer new and good-as-new notes for exchange from 3 to 16 Feb. They encourage using electronic channels for 'lai-see' and have measures in place for smooth exchange.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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The Hong Kong Monetary Authority ("HKMA") and the note-issuing banks—The Hongkong and Shanghai Banking Corporation Limited, Standard Chartered Bank (Hong Kong) Limited, and Bank of China (Hong Kong) Limited—announced the availability of new and good-as-new notes for exchange between 3 February and 16 February 2026. This initiative aims to streamline the exchange process, particularly for giving 'lai-see' (red packets) during the upcoming Chinese New Year.
The HKMA has encouraged public use of electronic channels such as the Faster Payment System via online or mobile banking, as well as other e-wallet services, to promote the exchange of electronic 'lai-see'. Major banks and operators have planned various promotional programs to foster the adoption of these digital alternatives.
To ensure a smooth exchange process, the note-issuing banks have implemented several strategic measures. These include advancing their operating hours to 8:00 a.m. for the initial three days of the service (3 to 5 February), with an additional hour of operation (until 9:00 a.m.) for the duration of the service. Additionally, they have introduced an online booking system for both new and good-as-new notes, with individual banks to provide specific details by the end of January. To manage crowds effectively, physical tickets and queue management measures will be implemented.
The public is advised to check their stock at home before visiting banks for note exchange, as banks are committed to ensuring sufficient supply throughout the service period to avoid rushes.
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