About LCSC Dedicated Accounts

What is a Dedicated Account?

A Dedicated Account is a new payment collection service provided through an official partnership between LCSC and CMB Wing Lung Bank.

▪ Nature: This is a unique bank account assigned to your company, operating under LCSC's corporate banking system.

▪ Key Feature: When your company makes an offline remittance to this account, the payment information is synchronized with the LCSC system.

▪ Difference: Traditional offline remittance methods (such as the original HSBC Hong Kong account) use a public account shared by multiple customers. The Dedicated Account is linked to your specific customer identity, providing an individual remittance channel.

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Is this an official service upgrade? How can I ensure it is not a phishing attempt?

Yes, this is an official service upgrade by LCSC. To ensure the security of your funds, please note the following:

▪ This service is provided through official cooperation between LCSC and CMB Wing Lung Bank.

▪ The Dedicated Account belongs to the LCSC corporate banking system and is not a personal or third-party account.

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Can the original HSBC Hong Kong public account still be used?

Yes, the HSBC Hong Kong account remains operational.

▪ Recommendation: Once your Dedicated Account is activated, we suggest using it for future remittances. As public accounts are shared, reconciliation may take longer. Using your Dedicated Account helps improve the accuracy and efficiency of payment reconciliation.

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What are the advantages of using a Dedicated Account?

▪ Enhanced Fund Matching: One-to-One Matching helps prevent payment misallocation and improves traceability.

▪ Streamlined Processing: The system facilitates the identification of incoming payments, reducing the need for manual verification and shortening processing time.

▪ Improved Transparency: Your company uses an independent account, which assists in clearer financial record-keeping and reconciliation.

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How do I obtain and use my Dedicated Account?

Step 1:

Application: Accept our official invitation or submit an application by providing your LCSC Customer ID and the country where your remitting bank is located.

Step 2:

Account Creation: The LCSC team will configure your Dedicated Account. Once created, you will receive an official email containing your unique and complete banking details.

Step 3:

Account Activation: You may immediately use this Dedicated Account for all future offline remittances.

Step 4:

Official Verification: For your security, your Dedicated Account details are automatically synchronized and available for viewing at any time on the LCSC platform:

▪ Customer Center: My Account → LCSC Balance

▪ Documentation: Offline Payment Guides, Proforma Invoices (PI), and billing documents.

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How can I verify the authenticity of the information?

All account-related notifications from LCSC are issued through our official email system or website. If you have concerns regarding the authenticity of the account information, please refrain from remitting funds and verify through the following channels:

▪ Official Verification Email: support@lcsc.com

▪ Dedicated Sales Representative: Contact your assigned LCSC representative directly.

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Will the funds be reflected in my LCSC balance immediately?

Manual reconciliation is currently required.

▪ Once your payment arrives in your Dedicated Account, our finance team will match the payment to your order or transfer it to your account balance.

▪ Future Automation Upgrade: LCSC is working on further automation. Future updates will allow for real-time balance updates once funds are received. We will notify you once this feature is available.