Close to two million pieces of Singapore’s limited edition bicentennial S$20 commemorative notes will soon be available for exchange, after the Monetary Authority of Singapore (MAS) received applications for 1.8 million more pieces to be released.
MAS had in September said it would be opening applications for an additional 2 million notes to be released. In June, the first round of 2 million notes were snapped up in just one week.
In a statement on Friday (Nov 1), MAS said it received a total of 200,000 applications for the notes between September 16 and October 13. Only Singapore citizens and permanent residents were eligible.
The authority said that all applicants were allotted the full quantity requested.
Successful applicants will receive an SMS notification by Sunday (Nov 3). The SMS will indicate the number of notes allotted and the applicant’s chosen bank branch to exchange the notes.
They will have two weeks, starting November 4, to exchange the notes. However, if their selected bank branch is a DBS or POSB outlet, they will have until November 30 to do so.
“This is to avoid long queues from forming as a large number of applicants chose to make their note exchange at DBS/POSB branches,” MAS said.
Remaining notes will be made available to the public at the bank branches, it added.
According to MAS, each person is allowed to exchange a maximum of 10 notes per transaction.
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