SINGAPORE: Online applications opened on Monday (Sep 16) for people who want to get the Singapore bicentennial S$20 notes.
It is the second batch of bicentennial notes to be made available by the Monetary Authority of Singapore (MAS), following strong demand for the first release of two million notes.
This time, applications for the new batch of two million notes can only be made online via MAS’ portal, from Sep 16 until Oct 13.
Successful applicants will be notified by Nov 3, said MAS. They can then make an exchange for the notes at face value during a two-week period from early November.
The application is open to Singapore citizens and permanent residents only, and each person can apply for up to 10 notes.
“If demand is very strong, MAS will try to allocate at least one note to every applicant in order to give all applicants an opportunity to obtain the note, with priority given to Pioneer and Merdeka Generation applicants,” said the central bank in a media release.
“(Successful) applicants will be assured of obtaining the note during the exchange period and there is no need to rush to queue.”
The special S$20 notes were unveiled in June to commemorate Singapore’s bicentennial.
Long queues were seen at major banks on the first day of the launch, with many branches running out of the notes on the same day.
Demand for the notes prompted some sellers to offer them on online marketplaces such as Carousell and eBay, for as much as S$988.
For the online application, each person will be required to indicate their NRIC/birth certificate number, as well as mobile number for verification and notification purposes.
Applicants will also need to select the number of notes to be exchanged, as well as their preferred bank and branch from any of the nine major retail banks:
DBS Bank Limited / POSB
United Overseas Bank Limited
Bank of China Limited
Citibank Singapore Limited
Industrial and Commercial Bank of China Limited Singapore Branch
Maybank Singapore Limited
Standard Chartered Bank (Singapore) Limited
HSBC Bank (Singapore) Limited
Successful applicants will only be able to make the note exchange at the bank branch selected in their online application form, said MAS, as the notes will be distributed to bank branches according to the allocation results.