How to use payment methods on Facebook Ads

02 November 2023

Do you know how to use payment methods on Facebook Ads? This social media continues to be a highly significant platform for businesses across all industries – but with its rapid growth, content attention has become fragmented. As a result, the platform has restricted the organic delivery of content and encouraged the use of advertising. But when entering the management dashboard to run it, you might have questions about the payment methods on Facebook Ads.

To clear up your doubts and help you run Facebook Ads more effectively, we’ve outlined the main accepted payment methods and their configurations on the platform. It’s worth noting that the Facebook Ads platform is also used to create ads on Instagram, so keep that in mind when you decide to apply cross-platform strategies.

What are the accepted payment methods on Facebook Ads?

The available payment methods on Facebook ads vary depending on each country, its local currency, and the account settings. To use multiple payment methods simultaneously, you need to have multiple accounts in an Ads Manager.

Currently, Facebook accepts the following payment methods for your ads:

PayPal in your name;
Credit cards (American Express, Discover, Visa, Mastercard, and others);
Co-branded debit cards;
Direct debit from a bank account;
Authorized manual payment methods;
Online payment systems such as Mercado Pago;
Bank transfers.

How do payment methods on Facebook Ads work?

When you create your first ad on Facebook, one of the initial steps is to choose the payment method for your ad account. Your choice will determine the subsequent payment settings.

Once you’ve set up your ad account for manual payments, you cannot switch to other payment settings. Therefore, it’s essential to carefully choose the configuration.

What are manual payment methods on Facebook Ads?

To make manual payments, you first add a balance to your Facebook ad account. Once the balance is available, Facebook deducts the specified amounts from your campaign as your ads run, gradually paying for your campaigns.

How to use a bank transfer as a payment method on Facebook Ads?

The option to pay with a bank transfer/bank slip was added to Facebook Ads accounts in August 2019, providing additional options for advertisers. It is considered a manual payment method, but it can also be set up in an automatic function. To use this method, you should add prepaid credit to your account.

Here’s a step-by-step to pay for ads with a bank slip:

Access payment settings in your Ads Manager;
Select “add payment method”;
Then, choose “bank transfer”;
Enter the amount you want to add to your balance;
Select “confirm payment”;
Confirm the added amount to your account and click “make payment”;
The payment will be processed through a bank transfer.

Please note that each bank transfer can only be used once. To prevent it from expiring, it’s recommended to pay it as soon as it’s generated.

Why isn’t the payment method I want to configure and use available?

When setting up and choosing a payment method, not all options may be available on your dashboard, or they might not be visible. It can be frustrating if you plan to use specific payment methods like bank transfers, PayPal, credit cards, or manual payments, and can’t find them – but there are numerous reasons for this.

The most common reason is that your country and the currency selected in your account do not correspond to the payment method you’re trying to use. Therefore, it’s crucial to ensure that you’re selecting valid payment methods for your country.

You are using an ad account configured for automatic payments. In this type of account, you can only use one manual payment method, which you selected when configuring your ad account before using it for the first time. Remember that this setting can be undone. However, Facebook Ads accepts PayPal, credit and debit cards, and various payment methods from around the world.

Can I change the payment method after the initial configuration?

Yes, it’s possible to change the payment method after the initial configuration of your account. To make this change, adjust the primary payment method. After that, charges will always be debited from this new payment method until you make another change.

Do you want to understand more about Facebook Ads and make paid traffic work for your business? We can assist you!

You can find information and strategies here on our blog for free. However, with us, you can discover everything that’s been missing for your business to take off with greater security and agility.

Schedule a free online meeting with us so we can get to know you better and understand what your business needs! We’re looking forward to hearing from you.

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