• Two in three customers who sent digital Ang Baos last Chinese New Year were first-timers, signalling growing openness towards digital gifting
• Customers can stand to take home up to SGD 2,828 or a Prosperity Horse Medallion Set when they give or receive digital Ang Baos
• The bank’s online notes reservation portal will open from 27 January, while 71 pop-up ATMs across 47 locations will be available from 3 to 16 February for customers to withdraw cash

DBS/POSB is doubling down on digital gifting incentives this Chinese New Year (CNY) as more customers embrace cashless ways of exchanging blessings during the festive season. During last year’s CNY, two in three customers who sent digital Ang Baos were first-time users, underscoring growing confidence and comfort with digital gifting.

To further encourage adoption, the bank has enhanced its annual CNY festive draw campaign, expanding both the incentives and the ways customers can qualify. This includes:

• Double the rewards: Participants in the draw stand to win prizes of up to SGD 2,828 or a Prosperity Horse Medallion Set.
• Double the ways to qualify: To qualify, customers need to send a digital gift of at least SGD 8 and meet one of the following criteria during the campaign period (27 January to 10 March 2026):
  – Keep total cash withdrawals below SGD 500; or
  – Deposit fresh funds of at least SGD 8,000 into their existing DBS/POSB account.
• Double the ‘Huat’: For the first time, the bank will not only reward the digital Ang Bao senders, but also their corresponding recipients. When an eligible participant wins, the first recipient of his or her QR Ang Bao will also receive the same prize¹.

More information can be found here.

Calvin Ong, Managing Director and Head of Consumer Banking Group, DBS Singapore, said, “Since introducing digital gifts in 2015, we have focused on making it easier for our customers to share blessings in ways that blend tradition with technology – from fully digital eGifts to phygital QR Ang Baos. Through continued innovation, we seek to provide various options to customers so they can celebrate the festive season in ways that they are most comfortable and joyful with.”

Digital gift usage continues to rise as cash withdrawals decline

Introduced as a convenient alternative to cash gifting, digital Ang Baos have gained strong traction in recent years. Past year festive period trends show that the growth in digital gifting has coincided with a decline in cash withdrawals, reflecting a broader shift in consumer behaviour. Last CNY, the popularity of digital gifting was accompanied by a 7% year-on-year decline in cash withdrawals.

Usage patterns also indicate that digital gifting resonates across different customer segments, with distinct formats appealing to different demographics:

• Customers aged 30 to 45 were the most active digital gifters, accounting for close to 40% of total digital gifters. This group makes extensive use of both QR Ang Baos and eGifts.
• Customers aged 46 to 62 showed a stronger preference for phygital QR Ang Baos, which enable digital transfers while preserving the familiar red packet experience. This group made up 22% of QR Ang Bao users.
• Young adults aged 18 to 29 gravitated towards fully digital eGifts, representing close to 35% of eGift users.

*Data based on DBS/POSB customer activity during the CNY 2025 festive period

DBS Customer Eugene Chia, 37, who works as a product manager, said, “I have been using QR Ang Baos for a few years now. It is very convenient as I do not need to make a special trip to the ATM to withdraw cash. I keep QR Ang Baos in my car and bag so that I can easily prepare a gift when necessary, even outside of the festive period. I use QR Ang Baos when I go for weddings or baby showers too.”

POSB customer Clarissa Phuan, 28, who works as an auditor, said, “QR Ang Baos are the perfect blend of tradition and tech. They are seamless, secure and convenient, and it’s great that I am able to load 10 QR Ang Baos at one go. What’s more, I don’t have to guard red packets like a vault anymore as the cash received goes directly into my Paylah! wallet.”

More ways to personalise and enjoy digital gifts this CNY

In line with the shift in customer preferences, the bank continues to enhance its suite of digital gift options to offer customers more ways to personalise their gifting experience.

• Personalised DBS PayLah! eGifts: Introduced last year, customers can personalise their PayLah! eGifts with photos from their gallery and in-app festive greeting stickers. This allows for a more heartfelt and personal touch, especially for loved ones who celebrate apart.
• Refreshed phygital QR Ang Baos: DBS/POSB rolled out new QR Ang Bao prints for CNY 2026 while retaining the familiar slot-in format that mirrors a traditional red packet. Customers can load up to 10 QR Ang Baos at one go and conveniently track their gifts via the DBS PayLah! app’s QR Gift dashboard. QR Ang Baos can be redeemed by anyone with DBS PayLah! or a PayNow-linked bank account. QR Ang Baos will be available for collection at DBS/POSB branches islandwide from 3 February 2026.

In support of the Monetary Authority of Singapore’s initiative to reduce the environmental impact of new note issuance, DBS/POSB will prepare Fit notes for customers who prefer cash gifts. Fit notes are used currency notes that are similar in quality to those from ATMs and may have fold lines or minor stains and are more environmentally sustainable than new notes.

Customers can reserve Fit or new notes via DBS/POSB’s online reservation portal in two windows:

*Slots are available on a first-come, first-served basis and may fill up quickly. The portal will close once all reservations are booked.

• Pop-up ATMs (3 February to 16 February): Customers can withdraw Fit and new notes via 71 pop-up ATMs across 47 locations from 3 February to 16 February. This year, the bank will offer 17 Fit note pop-up ATMs, triple the number when the initiative was first introduced in 2023. These ATMs will be operational from 10am to 10pm daily and 10am to 1pm on CNY eve. Hourly updates on estimated queue wait times and seats at selected pop-up ATM locations will be available via the pop-up ATM heatmap.
• Dedicated collection slots and walk-in exchange for seniors and customers with disabilities: Walk-in exchange will be available for customers aged 60 and above, as well as customers with disabilities. Branches will set up tents with chairs and fans or provide seats near or outside branch entrances. 30 branches will offer pre-packed notes in common denominations and quantities. Payments can be conveniently made via over-the-counter debiting or DBS PayLah!/PayNow at selected branches, allowing customers to collect their notes quickly.

[1] Recipients only need to have DBS PayLah! and a DBS/POSB account to be eligible for the prize. They do not need to send a gift, limit their withdrawals or deposit fresh funds.

🧧🏮 CHINESE NEW YEAR 2026 🏮🧧

Feeling adventurous and hoping to soak in the Chinese New Year atmosphere? We have compiled a list of Where to go during Chinese New Year 2026 and CNY Lion Dance Performances 2026, especially for our readers.

Looking for CNY goodies for your home? Here’s where to buy pineapple tarts and bak kwa in Singapore.

Planning a feast for the festivities? Check out these Chinese New Year Buffet Catering Services for a hassle-free celebration.

Want to shower your family and friends with blessings and bountiful gifts this CNY? Here is a list of unique CNY gifts and hampers to consider gifting!

* * * * *

Looking to reach over 100,000 parents in Singapore? Let us amplify your message! Drop your contact details here, and we’ll reach out to you.

Discover exciting family-friendly events and places to explore! Join our Telegram and Instagram for curated parenting recommendations.