DBS/POSB customers gifting digital Ang Baos double as more embrace convenience and tradition
Singapore.02 Jan 2025
Number of customers using DBS QR Ang Bao and eGift in 2024 doubled year-on-year; among them, more than 7 in 10 adopted these solutions for the first time
Fit and new notes available via the bank’s online reservation portal and 72 pop-up ATMs across 48 locations from 7 to 28 January
Exclusive abalone offers available at Sheng Siong to help POSB cardmembers save more on their festive shopping
Singapore, 02 Jan 2025 - The popularity of digital Ang Baos soared to an all-time high last Lunar New Year (LNY), with the number of DBS/POSB customers gifting digital Ang Baos doubling year-on-year. Over 7 in 10 customers embraced digital gifting for the first time through the bank's QR Ang Bao and eGift services during the Year of the Dragon. In total, about SGD 39 million was transferred through these digital gifting solutions.
As customers prepare to welcome the Year of the Snake, DBS/POSB is elevating the digital gifting experience with its refreshed QR Ang Bao design and enhanced personalisation features for its eGift service. These enhancements complement the bank's online notes reservation service which caters to customers who prefer giving traditional cash-filled red packets.
Calvin Ong, Managing Director and Head of Consumer Banking Group, DBS Singapore, said: “Lunar New Year is a celebration of family, connections and traditions. To help our customers preserve these cherished customs, we are delighted to offer innovative digital gifting solutions again this year. Our enhanced QR Ang Bao and eGift options enable personalised gifting with convenience and reduced environmental impact. It's heartening to see more customers embracing digital gifting each year, and we remain dedicated to delivering seamless, accessible gifting solutions and exciting promotions to make their Lunar New Year celebrations even more special.”
Digital gifting takes centre-stage
Digital gifting continues to increase in popularity, with more customers embracing and using DBS QR Ang Bao and/or eGift in recent years. This shift has also contributed to a 7% year-on-year reduction in cash withdrawals. This year, the bank is making it even easier and more compelling for customers to embrace digital gifting:
About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 16 consecutive years from 2009 to 2024.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
As customers prepare to welcome the Year of the Snake, DBS/POSB is elevating the digital gifting experience with its refreshed QR Ang Bao design and enhanced personalisation features for its eGift service. These enhancements complement the bank's online notes reservation service which caters to customers who prefer giving traditional cash-filled red packets.
Calvin Ong, Managing Director and Head of Consumer Banking Group, DBS Singapore, said: “Lunar New Year is a celebration of family, connections and traditions. To help our customers preserve these cherished customs, we are delighted to offer innovative digital gifting solutions again this year. Our enhanced QR Ang Bao and eGift options enable personalised gifting with convenience and reduced environmental impact. It's heartening to see more customers embracing digital gifting each year, and we remain dedicated to delivering seamless, accessible gifting solutions and exciting promotions to make their Lunar New Year celebrations even more special.”
Digital gifting takes centre-stage
Digital gifting continues to increase in popularity, with more customers embracing and using DBS QR Ang Bao and/or eGift in recent years. This shift has also contributed to a 7% year-on-year reduction in cash withdrawals. This year, the bank is making it even easier and more compelling for customers to embrace digital gifting:
- New QR Ang Bao designs: DBS brings back its popular physical-digital QR Ang Bao, first launched in 2019, blending modern convenience with the cherished tradition of red packet gifting. This year, customers can choose between the classic DBS Ang Bao and a fun, new POSB version featuring the iconic Smiley mascot. Both options retain the familiar slot-in design, reminiscent of opening a traditional red packet. Customers can manage up to 10 QR Ang Baos at once and track their gifting conveniently with the DBS PayLah! app's QR Gift dashboard. Anyone can redeem a QR Ang Bao, as long as they have DBS PayLah! or a PayNow-linked bank account.
- QR Ang Bao Click-and-Deliver service: DBS continues to offer its popular QR Ang Bao click-and-deliver service. From now until 8 January 2025, customers can order DBS/POSB QR Ang Baos online and have them delivered straight to their doorstep for added convenience. Last LNY, some 150,000 QR Ang Baos were delivered via this service. Alternatively, customers can collect QR Ang Baos from DBS/POSB branches across the island.
- Enhanced personalisation for PayLah! eGift: First launched in 2015, eGift allows customers to send joy and blessings to their loved ones anytime, anywhere — ideal for those unable to celebrate Lunar New Year in person. This year, eGift has been enhanced to let customers personalise their digital gifts by uploading photos from their gallery, alongside festive greeting stickers.
- ‘$8,888 Abundance’ giveaway: From 7 January to 18 February 2025, DBS/POSB is rewarding customers who embrace digital gifting with over 1,000 prizes of SGD 8,888 and SGD 88 up for grabs. To qualify, customers need to send an eGift or load a QR Ang Bao with at least SGD 8 and keep their total cash withdrawals below SGD 500 during the giveaway period.
DBS/POSB QR Ang Bao
Scanning the DBS QR Ang Bao
The bank will continue its efforts to raise awareness on the benefits of digital gifting through social media campaigns and community engagement in heartland locations, including a series of workshops in collaboration with partners such as Infocomm Media Development Authority and RSVP Singapore.
Fit and new notes available via the bank’s online reservation portal and 72 pop-up ATMs across 48 locations
For customers who prefer traditional cash gifting, DBS/POSB offers a seamless experience with its online reservation service and pop-up ATMs for Fit[1] and new notes.
- Online reservation of notes (7 January to 19 January): Customers can reserve Fit and new notes in their preferred denominations (SGD 2, SGD 10, and SGD 50) via http://go.dbs.com/sg-lny2025, selecting their preferred branch and collection time. Reservations are limited to SGD 800 for new notes and SGD 1,400 for Fit notes per customer, and are subject to availability with a maximum of one reservation slot per customer.
| Booking Period | Collection Period* | |
| Window 1 | 7 Jan 2025 – 12 Jan 2025 | 14 Jan 2025 – 20 Jan 2025 |
| Window 2 | 13 Jan 2025 – 19 Jan 2025 | 21 Jan 2025 – 27 Jan 2025 |
Table: Online reservation and collection windows
*Collection period excludes Saturdays and Sundays
- Pop-up ATMs (14 January to 28 January): Customers can withdraw Fit and new notes via 72 pop-up ATMs across 48 locations from 14 January to 28 January. This year, the bank has increased the number of pop-up ATMs dispensing Fit notes by 50%, bringing the total to 15 machines, in support of the Monetary Authority of Singapore's initiative to reduce the environmental impact of new note issuance. These ATMs will be operational from 10am to 10pm daily, and 10am to 1pm on LNY eve. Hourly updates on estimated queue wait times and seating options at selected pop-up ATM locations will be available via the pop-up ATM heatmap https://www.dbs.com/pop-up-atm/index.html.
- Dedicated collection slots and walk-in exchange for seniors and customers with disabilities: To better cater to the needs of seniors, dedicated collection slots will be set aside for them during branch operating hours to collect their reserved notes. Additionally, walk-in requests for Fit and new notes withdrawal and exchange services at branches will be restricted to customers aged 60 and above and customers with disabilities.
More festive savings with DBS/POSB cards
This Lunar New Year, DBS/POSB cardmembers can enjoy exclusive savings on festive treats, meals and clothing. Building on the popularity of the POSB Support Our Heartlands promotion at Sheng Siong, POSB is launching a special Lunar New Year offer so cardmembers can save more as they gear up for this year's LNY. From now until 28 January, POSB Everyday cardmembers will receive a complimentary can of abalone with a minimum spend of SGD 228 at Sheng Siong. Meanwhile, PAssion POSB Debit cardmembers can enjoy a 1-for-1 offer on mini abalone cans until 31 January 2025.
DBS/POSB cardmembers can also enjoy 10% off Yu Sheng at the Paradise Group of restaurants and Din Tai Fung, plus up to 25% off festive set menus at selected hotels including The Westin Singapore and Goodwood Park Hotel Singapore. Additionally, cardmembers can receive SGD 88 cashback on their shop, dine and travel spending by registering on PayLah! and meeting their personalised spending goal with their DBS/POSB card.
[END]
About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 16 consecutive years from 2009 to 2024.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
