Crisp New Banknotes & Lucky Bills: laisee money exchange kicks off at banks ahead of CNY

Ahead of the Chinese New Year, Hong Kong's three note-issuing banks are offering new and good-as-new banknotes for residents to exchange.

The service begins today and runs until February 16th.

To address the demand for the "laisee" banknote exchange, all three banks opened an hour earlier than usual.

At Standard Chartered's Kwun Tong Road branch, long queues began forming as early as 7 a.m.

Citizens could choose between a 3,000-dollar new banknote set and a 1,000-dollar good-as-new "lucky banknote" set, which include 20-dollar and 50-dollar banknotes.

This resident exchanged more than 6,000 dollars -- similar to previous years but noted there will be slightly more prudence in giving out laisee given the economic situation this year.

At HSBC's Nathan Road branch in Mong Kok, the doors opened before 8 a.m.

It is offering a 3,000-dollar new-note set and a 6,000-dollar mixed set.

Banks have reminded customers to make online reservations in advance to reduce waiting time.

But for those without online booking, HSBC says same-day queue tickets for new-note exchanges are available from today until the Lunar New Year's Eve.

Bank of China (Hong Kong) says all of its branches are providing new banknotes and good-as-new notes for exchange as well.

The Hong Kong Monetary Authority has encouraged the public to consider using e-payment methods for giving out laisee, including services offered via online or mobile banking, FPS or other e-wallets.