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Could the long queues for SG50 notes have been avoided?

Thursday, August 20, 2015

Unless you don't read or watch the news, you would know that there are special SG50 notes available for purchase from today onwards. They are available at branches of nine major retails banks:

DBS Bank and POSB

Oversea-Chinese Banking Corporation
United Overseas Bank
Citibank
Standard Chartered Bank
Bank of China
HSBC
Malayan Banking Berhad
Industrial and Commercial Bank of China

I didn't know that ICBC was a major retail bank in Singapore. Well, now, I know.

Wait! Before you rush to purchase these special SG50 notes, look at this:



I was on my way to buy lunch at a food centre when I walked past this UOB branch. 

OMG! Are they giving away special SG50 Hello Kitty toys as well?

Apparently, this is happening island wide and some of the queues started forming at 6am in the morning! 




Despite advice from the government not to rush for the notes, the kiasu mentality of Singaporeans' cannot be suppressed. Hey, I am not being derisive here hor. I am Singaporean too.

I would like to say that this kiasu mentality is part of being Singaporean and the government should have taken this into consideration when deciding on how to get this done without long queues forming. 

Not only are the queues a waste of time, they also show the not so nice side of us Singaporeans. This is the truth lah. Hurts a bit is normal lah. Laugh! Laugh now! Laugh at ourselves now! See, OK liao! So simple!

This is where AK says something to make a bid at being elected a Member of Parliament at the next General Election. This is what AK would say during his campaign rally:

"A way to avoid such a situation is to send out letters to each Singaporean household and to let them know that Singaporeans have priority and with that letter, they are assured of at least 5 sets per household. They could make an appointment to exchange for the new notes at a local retail bank of their choice before the end of the year. After which, the notes will be available to other interested parties. Is this so difficult to do? Seriously."

There, any reasonable person would be able to tell that AK is MP material after this.




Anyway, according to the MAS, they have produced some 20 million sets of the SG50 notes. So, really, if you are thinking of rushing down to join a queue because the notes might run out, I don't think you have to worry.

"A total of 20 million pieces of $50 notes and 75 million pieces of $10 notes - 15 million pieces of each design - will be printed." Source: The Straits Times.

More importantly, what did I have for lunch?




The queue was rather short. Thank goodness.

UPDATE - 29 Sep 15:

I tried my luck at balloting for some uncut sheets of limited edition SG50 notes and I got a sheet of $50 and a sheet of $10 notes!

Special serial numbers for the limited edition notes.
The note on the left is a regular SG50 $50 note.
There are only 50 sheets per design for the uncut $10.
So, I feel really very lucky to get a sheet through balloting!

Related post:
McDonald's Black Kitty.
What? You don't think this is related? OK lor.

9 comments:

unluckid said...

Ho AK,

UOB website allows reservation of notes and day of pick up. Hopefully able to avoid the crowd like this

AK71 said...

Hi unluckid,

Oh, yes, I forgot to mention that. Thanks. :)

For anyone who is interested, here is the link:

Reserve SG50 notes.

Philip said...

What's that? Curry rice (though I don't see the curry lah) ?

AK71 said...

Hi Philip,

I think the store assistant was very "frugal" with the curry... -.-"

imdna said...

Acherly buy for what ah...just keep for fun right...it's not collector's item since there are millions available and not limited edition.

AK71 said...

Two thumbs up!

An additional six million folders will be printed to meet "overwhelming demand" from Singaporeans for both the SG50 commemorative notes and folders, the Monetary Authority of Singapore announced in a press release on Thursday (Sep 3).

MAS said two folders will be available for every Singaporean household from the middle of November this year. They will be able to get the folders without having to obtain the SG50 notes at the banks.

Folders will continue to be available at banks for those who exchange the required number of notes, MAS added.


Source:
http://www.channelnewsasia.com/news/singapore/mas-to-print-6-million/2097890.html

AK71 said...

Every Singaporean household can collect two SG50 note folders for free from any of the 108 Community Centres/Clubs (CCs) islandwide from November 11 to 30 this year.

Those who already have the original set of folders and wish to exchange them for the new ones may also do so at the CCs, the Monetary Authority of Singapore (MAS) said today (Sept 30) in a news release. This will be in addition to the two folders that each Singaporean household can collect.

In late November, Singaporeans can also obtain up to two folders at the participating banks when they exchange for the SG50 commemorative notes.

“We would like to appeal to the public to refrain from queuing repeatedly to get more than the stipulated two folders, in fairness to others,” said the MAS.

More details will be announced in late October.

Source:
http://www.todayonline.com/singapore/two-free-sg50-note-folders-every-singaporean-household

V- Lin said...

HI AK,

Always so lucky ! :) How do we ballot for the uncut ones and is it too late to ballot ? Can we only get uncut through balloting ? I have been away for a month and have not been following accept for the first couple of days where people were queuing ...

AK71 said...

Hi V,

I am afraid the balloting process is over and all uncut sheets have been allocated.

Welcome back. :)

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