How to Change the Payout Account on Lazada?

How to Change the Payout Account on Lazada?

In today's booming cross-border e-commerce, Lazada, as one of the key e-commerce platforms in Southeast Asia, has attracted significant attention and participation from Chinese sellers. For merchants selling products through Lazada, timely and accurate receipt of payments is a critical part of their operations. However, during actual operations, due to changes in bank account information or other reasons, sellers may need to update their default payout accounts on the Lazada platform. So, how does Lazada change its payout account? This article will provide a detailed explanation of this issue and offer practical operational guidelines based on the latest news updates.

Firstly, understanding Lazada's payout mechanism is the prerequisite for changing the account. Currently, Lazada supports various payment methods, with the most common being settlement through third-party payment platforms such as Payoneer and PingPong. These payment service providers will convert buyer payments into RMB and transfer them to the seller’s domestic bank account. When a seller needs to change the payout account, it essentially involves updating the bank information provided by the payment service provider that collaborates with Lazada.

So, specifically, how should one proceed? According to the guidance provided by Lazada’s official customer service, changing the payout account typically involves the following steps

Step One Log in to the Lazada backend management system. Whether via a computer or mobile app, sellers need to ensure they have administrator privileges and can smoothly access the store management interface.

Step Two Locate the settings or account information options. On this page, there is a section dedicated to maintaining financial information, including details related to the payout bank account. Upon clicking into it, you can view the current bound account details.

Step Three Fill out new payout information. Here, the seller needs to provide a brand-new bank account number, the name of the opening bank, and the cardholder’s name among other key fields. It is important to note that all information must be true and valid; otherwise, it could lead to funds not being credited properly.

Step Four Submit the application and wait for verification. After completing the above operations, the system will prompt you to submit an update request. Subsequently, Lazada will verify the new account, which may require uploading relevant proof documents, such as copies of ID cards or scanned copies of business licenses. The entire verification process usually takes several working days.

Step Five Confirm successful update. Once the review is passed, the seller will receive notification, and the old account will be automatically deactivated while the new account becomes effective. At this point, it is recommended to double-check all information to ensure there are no errors, avoiding potential problems due to oversight.

It is worth noting that to avoid unnecessary trouble, it is advisable to make adequate preparations before changing the account. For example, communicate with the payment service provider in advance to confirm whether the new account meets the requirements; at the same time, you can also refer to some best practices within the industry, such as regularly checking account status and recording each transaction flow, to better manage your financial situation.

Recent media reports indicate that with the continuous expansion of the Southeast Asian e-commerce market, more and more Chinese enterprises are choosing to use Lazada to explore international markets. Against this backdrop, optimizing cross-border payment processes becomes particularly important. For instance, professional advice suggests that sellers can simplify the payout process by selecting reputable payment platforms and utilize big data analysis tools to monitor order dynamics, thereby improving overall operational efficiency.

To summarize, changing the Lazada payout account, though seemingly straightforward, involves multiple steps and details. Hopefully, this article can help many sellers complete this process successfully and continue to progress further in the future. If you still have any questions, feel free to consult Lazada’s official documentation or seek advice from professionals for more targeted support and services.