5 Reasons Why Digital Angbaos Are The Way To Go This Chinese New Year

E-angbaos: Staying safe and winning free money? Count us in.

With PM Lee endorsing digital angbaos with conviction — putting it out there that the process is ‘simple and fast’ no less —  that’s reason enough for you to do the same this very special Chinese New Year. 

Did you know that approximately 330 tonnes of carbon emissions are generated by the production of new notes every Chinese New Year? Not only are you opting for a more environmentally friendly alternative when you embrace digital angbaos, but also you can reap an array of benefits, including some very tangible ones.

Benefits of digital angbaos

#1 Save time

Going digital lets you save time for sure. Not everyone has the time or patience to spend it in line queuing up for physical notes. With COVID-19 still lurking, the process of getting new notes has just gotten one step more complex. 

In most cases, those who want new bank notes the traditional way have to first book their appointment online before collecting them at the bank. People who bank with DBS and POSB have another option: withdraw the bank notes at pop-up ATMs peppered across Singapore. 

Still, expect long lines and the fact that the specific denominations you’re after might not be available.

#2 Stand a chance to win free money

Gift money digitally and win free money? Count us in! You’re in luck if you bank with UOB or DBS. They are running promos this Chinese New Year that let lucky customers win real, cold hard cash. 

While they aren’t banks per se, Wise, Google Pay and YouTrip will also be upping the fun for users this Chinese New Year.

UOB Promo: From now till 28 February 2022, you can stand to win up to S$188 sure-win cash angbao when you deposit at least S$50,000 fresh funds into an eligible UOB savings account. Simply register your participation and pick an auspicious item — the Lucky Mandarin, Blooming Peony or Fortune Lantern to win. If you're one of the lucky 10 winners, you can also snag 10x your angbao amount in the Prosperity Tiger Draw.

DBS Promo: From 1 to 15 February 2022, PayLah! customers who give or receive QR Gift/ eGift stand a chance to win up to S$888 via the soon-to-be-launched ‘TapLah!’ game that’s to be hosted under the QR Gift dashboard in the PayLah! App. To qualify, all you need to do is gift or redeem a QR Gift/ eGift of at least S$6 and earn your chance to play and rack up your game score. The top 10 users with the highest scores at the end of each day from 12 to 26 Feb 2021 will win S$88 each. To make things more exciting, the player with the highest score across the entire gaming period will win an extra S$800!

Google Pay Promo: From now till 15 February 2022, users stand a chance to win a cash angbao up to S$88.88 with Google Pay’s returning social game, Huat pals. All you have to do is collect all five playful characters or ‘Huat pals’ within the app, which you’ll receive at random upon completing transactions and other actions on Google Pay, such as sending gift baskets, paying businesses or completing referrals. 

Scroll down Google Pay app’s homepage and tap on Huat pals to access the campaign. Make sure you’re already opted in to Google Pay rewards! Check out this post here for more details.

Wise Promo: From 31 January to 28 February, the first 1,000 new customers who make an international e-angbao transfer with Wise can enjoy zero transfer fees. The cherry on top? Wise is also offering Fengshui readings on your zodiac's financial health, lucky timings and amounts to send e-angbaos based on your zodiac, and tips on how Singaporeans can save money!

Here's a sneak peek: according to Wise's Fengshui readings, goats' best months for financial luck are in June, July and August while those born in the year of the rabbit are encouraged to place a lamp or light fixture in the East corner of their home for a boost in luck.

YouTrip Promo: From now till 6 February, users will be rewarded with a randomised cashback reward up to S$888 when they gift their first three e-hongbao transfers with no minimum amount required, or send an e-angbao via YouTrip Send and make one transaction. On top of that, YouTrip is also promising a 3% cashback with no minimum spend on your total foreign currency spend online and offline, as well as a chance to receive 100% cashback when users make a top-up during their Huat Hour. Promotions run from now till 31 January and from 4 to 5 February respectively.

#3 You can prepare last minute angbaos on the go

Growing up, we’ve all witnessed our parents and relatives become frantic whenever last minute angbaos were needed as unexpected recipients loomed. The challenge to always have fresh angbao envelopes and extra new bank notes available on hand is real, if the one giving out angbaos doesn’t want to be judged negatively or be called ‘stingy’.  

With digital angbaos, nobody has to ever feel bad or embarrassed anymore. Digital angbaos can be gifted on the spot right away — in the exact denominations you want for extra huat (e.g. S$88.88). Ingenious, no?

#4 Track your money easily

You get to track your incoming and outgoing funds at a glance when you receive and give digital angbaos. While you might not admit this plainly, it’s always nice to know who you’ve already given angbaos to. 

Your nephews and nieces, cousins, and elderly relatives whom you rarely see the entire year as well as your neighbours’ kids can’t trick you into giving out double or triple angbaos just because you’re forgetful.

#5 Stay safe amidst COVID-19

This Chinese New Year is unlike any other. In light of the various safe distancing measures in place, responsible people like you and I can reduce physical contact with extended family members simply by opting to give and receive digital angbaos instead of traditional angbaos. 

What’s more, digital angbaos are a great complement to virtual gatherings. Regardless of where you may be, you can send or receive angbaos digitally within the blink of an eye.

Digital angbao providers

Convinced to go digital this year? Take heart that DBS, UOB, SCB, OCBC, Citibank and Maybank provide digital angbao services via PayNow or QR codes. You can even add on some festive personalisation with UOB’s e-hongbao and DBS eGift to make things a little more interesting and, well, festive. 

Prefer the personal touch of a physical, same same but different angbao? DBS has you covered with the DBS QR Gift. With this partially digital angbao, the angbao giver has to scan and load up the QR Gift(s) via PayLah! whereas the angbao recipient simply scans the QR code to receive their gift via PayLah! or PayNow.

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