SINGAPORE: As the Lunar New Year approaches, banks have started issuing "good-as-new" S$2 notes.
The Go Green initiative was first introduced last year.
Clean and crisp S$2 notes that were retrieved after the last Lunar New Year are being issued as good as new.
This reduces the number of new notes being printed, cutting on energy costs.
Customers can make the eco-friendly option of choosing "good-as-new" notes over brand new ones at participating retail banks.
Last year, the banks saw 10 per cent of their customers choosing the recycled notes.
They are expecting the number to increase to 20 per cent this year.
Sunny Quek, head of premier banking at OCBC Bank, said: "Many customers are assured of the quality based on previous year's experience. We believe more customers will be more willing to change and accept the good-as-new notes to support this Go Green initiative."
On top of the initiative, DBS Bank has added an interactive touch to its red packets, or "hongbao".
Koh Cheng Hwee, managing director at DBS Bank, said: "We have provided the traditional hongbao to our customers, featuring boys and girls with auspicious sayings. The customers can scan a QR code at the back of the hongbao and send social Lunar New Year greetings to their friends and relatives." - CNA/gn
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