Payment Methods on Facebook: everything you need to know

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Carlos Laforet Coll
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Payment Methods on Facebook: everything you need to know

by Team AllYourVideogames | Aug 25, 2022 | Facebook | 29


Many people when they start advertising on Facebook don't know what the payment options are or how to configure them.  



However, if you want sell more and succeed on the internet, creating a social media ad strategy is essential. For that, you'll need an ad account and that's when questions about payment options arise.

In this text we have gathered the answers to the main questions about payment methods on Facebook. Check out!

ATTENTION: CHOOSE THE RIGHT CURRENCY

When creating Facebook ad account, many people choose to pay with wrong currency and this can become a big problem.

Some people end up choosing to pay in DOLLAR instead of REAL. This ends up leaving them stuck to the foreign currency exchange rate.

Even if you have selected our country as the country and the currency of another location, charges for your ads will be processed in REAL on your bank statement, with exchange rates included.

Another issue is that, depending on the chosen currency, some payment options are not authorized.

Here in our country and paying with REAL, you can choose the options of:

  • Ticket;
  • Credit card;
  • Paypal.

So, if you don't want to end up paying more for your ad, always opt for your local currency. Thus, you avoid future headaches due to quotation and exchange rates.



If you want to use a prepaid option, check out how to advertise on Facebook without a credit card.


HOW TO CHANGE THE CURRENCY ON FACEBOOK

If you want to change your ad account currency, please be aware that this is not possible. Therefore, it is very important to pay attention to the settings when setting up your account.

To use a different currency than the one you already use, you will need to create a new ads account.

HOW DOES FACEBOOK AD BILLING WORK?

Facebook allows you to set a budget for your ads and doesn't charge you anything beyond the amount you set. That is, if you set a budget of R$ 10 for an ad, for example, Facebook will never spend more than that.

Remembering that budget is different from spending:

Get a quote: The maximum amount of money you would pay for an ad.

Spending: The amount you will actually pay for your ad.

Three factors define how Facebook spends its money, they are:

Chosen Audience Size: How many people are within the targetings you've chosen.

Your cash bid: which is basically the budget you've made available.

Your schedule: how many days your ad will run on Facebook.

Always keep an eye on your Ads Manager charges.


Imagine if one day you accidentally type in an extra zero when setting a budget. The limit that would be BRL 10 can become BRL 100, so keep an eye out!



NON-FACEBOOK PAYMENT METHODS

Basically, here in our country it is possible to advertise by paying with: credit card, boleto or paypal.

You can also use Facebook Ads Coupons if you receive one.

It is worth mentioning that the option of payment with boleto is not always available. Many accounts end up not being granted access to this function.

It is important for you to know that your data is stored securely by Facebook. Only account administrators will have access to this information.

So remember to only add people you trust as admins for your ad account.

If you want to add other people to manage your ad account, try to offer the roles that best suit the roles they will play in the account.

IS IT POSSIBLE TO CHANGE PAYMENT METHODS ON FACEBOOK?

Just like it is not possible to change the payment currency, then choose a payment method on Facebook you won't be able to change it.

That is, if you configure a postpaid option (credit card), you will not be able to migrate to a prepaid option (boleto) and vice versa.

The solution for anyone who needs to change their payment method on Facebook is to create a new ad account.


HOW TO CHANGE YOUR CREDIT CARD

If your credit card has expired or for whatever reason you can no longer use it, you can add a new card to your account.


To do this, just follow the steps below:

Step 1. Go to your account settings in Ads Manager.


 

2 STEP

Click on Payment Methods at the top of your screen.

3 STEP

Click on Add Payment Method and add one more credit card to your account or even your paypal account.

This is the main information about payment methods on Facebook that you need to know to start advertising.

For more information, see the Facebook Community Payment Terms and understand more details about payment methods on Facebook.

CONTINUE NO BLOG

Now that you know the payment methods on Facebook, get ready to pump your ads.

Videos are super hot on Facebook, so it's really good to know how to rock this ad format, isn't it? Read now:

VIDEO ADVERTISEMENTS ON FACEBOOK: BEST PRACTICES TO KILL YOUR CAMPAIGNS

 

SPECIALIST RECOMMENDATION:

I believe this content will certainly help you get closer to what you want for yourself and your business. It will guide you through the initial steps you need to take towards the RESULT.


But, in my opinion, this is just the beginning of the path. If you want to delve deeper into this topic and have access to complementary (more advanced) material, I recommend that you access the complementary content that you have just read. Just sign up or click below.


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