How to Setup Facebook Monetization Payout Account

Setting up your Facebook monetization payout account correctly will help you receive your earnings in your bank account on time without any delay. 

You can actually do this when filing in your monetization requirements or add it later at your convenience time within six months of onboarding.

Without setting up your payout account, you are allowed to earn up to $500 per monetization tool with a maximum of $1,500 across all three tools. 

If you eventually earn up to $500 per tool, you won’t be allowed to earn anymore with that particular tool until you set up your payout account.

For example, if you are being monetized for in-stream ads, Facebook won’t allow you to earn anymore when you’ve reached an earning threshold of $500 until you’ve set up your payout account.

You can only receive your payout through wire transfer or PayPal; if you don’t have any of these payment methods, don’t panic; this post will give you guidelines on how to setup Facebook Monetization Payout Account. Make sure you read till the end.

Documents Needed for Payout Account Setup

You will need the following documents, especially if you operate a business Facebook page 

• Proof of residency or Nationality ( international passport or any Government Issued ID card)
• Indirect tax ID or any other applicable identification number issued by a government agency 

How to Setup Your Facebook Monetization Payout Account 

Here are the guidelines you need on how to setup your Facebook Monetization Payout Account after applying for Facebook Monetization,

1. Agree to the terms and conditions for the monetization tool you’ve selected and click on Get started 
2. If you monetized a profile, enter your legal name and surname, date of birth, primary address, contact phone number and email address 
3. If you monetized a business page, enter your business name, business address, and phone number 
4. Confirm that you are the owner of the business by entering your legal first name, surname, date of birth, primary address, and contact email address.
5. Choose how you would like to get paid ( Wire transfer or PayPal)
6. Link your Bank or PayPal Account details 
7. Confirm your residency and add your tax info
8. You will be prompted to consent to an electronic signature; after that, enter your full name to certify that you have added the correct and accurate information 
9. After your signature, choose a date from the drop-down menu 
10. Review your filled form to make changes where necessary and click submit 
11. After receiving a notification that your information has been verified, click on Done.

FAQ

Do I need a Bank Account for Facebook Pay?

Yes, you need a bank account that receives money in USD.

How Long does it take to receive a withdrawal?

Withdrawal takes between 1-7 working days before it is reflected in your bank account.

What could lead to a delay in payment?

Your payment could be due to the following reasons 

• if you change your bank information within 5-10 days before placing a withdrawal 
• If you enter incorrect bank details, in this scenario, your payment will be rejected completely.

Final Thought 

After submitting your payout form, you can still change it at any time if it doesn’t suit you, but if you update your information during the payment cycle, your payment may be delayed.

Filling out your tax information is crucial in order for you to get paid; if you live in Nigeria and don’t have a tax ID, you can use any number that identifies yourself or your business, such as a driver’s license number, business registration number, or citizenship number.

Also, When filling out your wire transfer account details, ensure you have the SWIFT code or routing number and IBAN filled in correctly.

You are to input the best wire transfer Account that will help you receive your earnings faster. Most citizens in some countries only use local bank Accounts with no International Bank Account Number for wire transfers. 

If you stay in such a country, you can get that resolved by setting up a Domiciliary Account or intermediary bank that will help convert your earnings to your local currency.

Alternatively, you can Create a Nigerian PayPal  Account that sends and receives money abroad and set it up as your Payout Account.

The minimum amount you will receive as a payout is solely dependent on your payout method.

You will be paid once a month after you reach the minimum balance of $100 with Wire Transfer, while with PayPal, you only need to earn a minimum of $25