With the Lunar New Year approaching, the Hong Kong Monetary Authority (HKMA), together with HSBC, Standard Chartered Hong Kong, and Bank of China Hong Kong, announced on Jan. 13 that branches of the three note-issuing banks will provide new and "like-new" banknotes for public exchange from Feb. 3 to Feb. 16. Online reservation services for exchanging new and "like-new" banknotes will be available starting on Jan. 27.
To facilitate public exchange, the three note-issuing banks will extend their opening hours during the first three days of the exchange service, from Feb. 3 to Feb. 5, opening at 8 am, with the hour from 8 am to 9 am dedicated exclusively to banknote exchange services. Relevant branches will implement crowd management measures, such as issuing queue tickets and managing arrangements when necessary.
"Like-new" banknotes refer to those that are slightly used but still in pristine condition, making them suitable for use in red packets (lai see). The HKMA advises the public who need cash for red packets to check whether they have any remaining new or "like-new" banknotes at home before visiting banks. The HKMA also encourages the public to use electronic payment methods, including "FPS" (Faster Payment System) or services offered by other e-wallets via online or mobile banking, to give red packets.
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