Bank Account Registration #
The Seller shall provide accurate, complete, and valid bank account details for the purpose of receiving settlements, payouts, refunds, and other amounts payable by LX INDIA.
The bank account provided by the Seller should be held in the name of the Seller. The Seller shall be solely responsible for ensuring that the bank account details provided to LX INDIA are accurate and up to date.
Mandatory Documents for Bank Account Changes #
Where a Seller requests a change to its registered bank account details, the Seller shall mandatorily provide the updated bank account information together with valid supporting documentation as may be prescribed by LX INDIA.
Such supporting documentation may include, as applicable:
- a cancelled cheque;
- a bank passbook;
- a bank statement; or
- such other bank or account ownership document as may be accepted by LX INDIA.
LX INDIA may request additional documents or information where required for verification, fraud prevention, regulatory compliance, or account security.
Verification and Approval
Any request to change the Seller’s registered bank account shall be subject to verification and approval by LX INDIA.
LX INDIA shall endeavour to complete the verification and approval process within approximately seven (7) to fourteen (14) days from receipt of complete and satisfactory documentation. The actual processing time may vary depending on the completeness of documents, verification requirements, banking processes, security checks, or other operational circumstances.
Payouts During Bank Account Change #
Until the requested bank account change has been verified and approved by LX INDIA, payouts to the newly provided bank account shall not be processed.
LX INDIA may hold, defer, or otherwise restrict the processing of payouts during the verification period where reasonably necessary.
Once the bank account change has been duly approved and all other applicable payout conditions have been satisfied, eligible payouts may be processed in accordance with the applicable settlement and payout schedule.
The Seller shall not treat submission of a bank account change request as confirmation or approval of the change.
