Exclusive Beneficiary Account

An Exclusive Beneficiary Account is a new payment collection service jointly launched by LCSC and CMB Wing Lung Bank.

It provides each customer with a unique, dedicated beneficiary account that is directly linked to your LCSC corporate account.

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How it works?

When you make a wire transfer to this dedicated account, the payment information is automatically synced to the LCSC system for faster identification and accurate allocation.

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Why this matters?

Previously, all payments were collected through an HSBC Hong Kong bank account, which could lead to slower processing and manual matching. The new exclusive account solves these issues by providing a one-to-one link between your payment and your LCSC account.

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Is this an official upgrade? Is it safe?

Yes. This is an official feature jointly introduced by LCSC and CMB Wing Lung Bank, and it is not a scam or phishing attempt.

Your Exclusive Beneficiary Account is a legally linked account under the LCSC corporate account, ensuring safe, compliant, and efficient handling of your payments.

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Can I continue using the HSBC Hong Kong bank account?

You may still use the HSBC Hong Kong bank account as a beneficiary account during the transition period.

However, after your Exclusive Beneficiary Account is created, we strongly encourage you to switch fully to the new account.

LCSC will gradually phase out the payment-receiving function of the HSBC Hong Kong bank account (exact date to be announced).

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Benefits of using the Exclusive Beneficiary Account

◾ Faster payment confirmation:

Automatic system recognition reduces delays and removes the need for manual verification.

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◾ Higher payment security:

One-to-one matching minimizes misallocation and human error.

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◾ Dedicated account for each customer:

A unique account containing only your transfers.

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◾ Clear transaction records:

Each transfer is uniquely tied to your account, making reconciliation simple, transparent, and error-free.

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How to request and use your Exclusive Beneficiary Account?

Step 1: Apply or accept the invitation

You may apply directly by providing your LCSC customer ID and the country of your remittance bank or accept the official email invitation.

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Step 2: Account creation

The LCSC team creates an Exclusive Beneficiary Account for you.

Once completed, you will receive an official email with your unique bank account details.

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Step 3: Start using the account

You can begin using the Exclusive Beneficiary Account immediately for wire transfers.

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Step 4: View your account details

Your account information will appear automatically in several areas, including:

◾ Offline payment instruction page

◾ Proforma invoices

◾ Invoices

◾ My Account > My Wallet > LCSC Balance

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How to verify the authenticity of the information?

All notifications are issued through official LCSC channels.

◾ You may verify through email: support@lcsc.com

◾ Your assigned LCSC sales representative

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Will my received payment appear instantly in my LCSC balance?

Not yet. In the earlier stage, payments still require manual confirmation by LCSC staff before they are reflected in your balance and associated with the correct order (if applicable). LCSC will continue to upgrade the system for automatic display of payments in your LCSC balance (date to be announced).