In some countries, when running ads, you need to change the currency to match your account and easily make liquidity when running Facebook ads. Furthermore, the currency also more or less affects the advertising campaign’s performance. How to change the currency to suit the advertising market? Let Optimal Agency guide you on how to change the currency in Facebook ads.
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What is the currency in Facebook advertising?
Every Facebook advertising account needs to pay a fee when running every campaign. Every month, businesses need to pay advertising fees to Facebook. During the liquidity process, you are required to choose a valid currency to pay for it. Facebook will default the currency in the ad based on the region of the account owner running that ad. Currently, Facebook’s default currency is USD.
Using the appropriate currency for each country is important. Because it makes it easy to liquidate advertising costs. In case you use foreign currencies, there will be additional foreign currency conversion costs. Therefore, you need to know how to change the currency in Facebook ads for convenient use.
Meaning of changing currency in Facebook ads
Changing currency in Facebook ads brings many benefits to businesses and advertisers:
Reflects the true value of the product
By displaying product information and prices in the correct currency, it helps create a clear and transparent business environment. This helps increase customer trust. When prices and product information are accurately reflected, users have a better view of the true value of the products and services provided. This creates positive feelings and motivates them to make purchases and use services.
Expand the market and increase reach
Changing your currency makes your ads more relevant to consumers in your local market. Thereby creating favorable conditions to increase access and interaction with target customers.
Especially when you want to expand your business and access foreign markets, changing currency is necessary. It helps display prices, offers, and product and service information in a way that users in each market can understand.
Enhance brand reputation
By changing the currency unit in Facebook ads and displaying accurate information and prices in the target country’s currency, customers will have more trust and motivation to purchase or use your services.
Attention to detail as advertising currency demonstrates professionalism and respect for target customers. This helps build brand reputation, build trust in customers, and develop long-term business operations.
Optimize marketing strategy
When you change the currency unit, you can adjust prices and budgets to suit your target market. You can apply a more flexible pricing strategy to attract and retain customers. If ads display prices and information in the correct currency that customers are familiar with, they will feel more confident. This helps improve the performance of advertising campaigns and increase conversion rates.
What do you need to prepare before changing the currency on Facebook?
Before you start converting currencies in Facebook ads, you need to make sure you have administrator rights on your account. This is so Facebook can tighten information security and support businesses more easily.
Since changing the currency unit means changing the payment method corresponding to that currency unit, to avoid losing payment methods when switching currency units, you should use payment methods such as Visa or Mastercard.
In some countries like Venezuela and Nigeria, the currency must match the country of the ad account. That means if you want to change the currency, you must change the country on that account.
For Brazil, if the original ad account did not select the region when created as Brazil, you will not be able to change the currency to this country. It means that only if you have an account installed and have Brazilian currency from the beginning, you can change it to another unit and back to Brazil.
How to change the currency in Facebook ads
If you feel inconvenient in liquidity and want to change the currency, you can change it in the following cases:
New Facebook advertising account
First, access the Ads Manager and go to the Ad Account Settings section. In the Currency section, you will see the option to Change Currency. Select an appropriate currency and time zone, then click Create New Account to complete the currency change. You have now created a new Facebook ad account with a new currency.
Or you can go to Payment Settings in Ads Manager. In the Business Information section, click Edit. Next, select the new currency and time zone and click Save. By selecting a new time zone and currency, you’ve created a new ad account.
Old Facebook advertising accounts will be closed and all ads created with this account will stop working. Any ads that were run using the old ad account will be billed in the old currency.
The ad account hasn’t added a payment method yet
Go to the Facebook advertising account where you want to change the currency. Next, select the Fanpage you manage, and then in the Post sections, click on Boot Post located at the bottom. After clicking, wait about 3 – 5 seconds for the sample panel to appear.
If that currency is not USD, select Currency to convert that unit to USD. After completing the exchange, you need to add the payment method Visa/Mastercard.
The ad account has added a payment method
In this case, you will have 2 things to handle as follows:
Method 1: Contact Facebook directly by requesting to change the currency in the Payment Account section. This method is quite simple but it will take you 5 – 10 days for Facebook to process.
Method 2: In this method, add another payment method to run ads in the new account. This process requires you not to run ads using your old account. Next, wait about 10 – 14 days to run ads in account 2. Facebook will then remove the payment method in account 1. Now do the same currency conversion without adding a payment method.
Note when changing the currency of your Facebook ad account
When changing currency in Facebook ads, you need to pay attention to the following things to make the process go smoothly:
Changing the currency for your Facebook ad account means you have created a new ad account with the new currency. Then the activities and campaigns of the old ad account will not be controlled by the old account. You can view information on your old currency account, but you can’t edit or use ads on your previous account.
It’s not always possible to change the currency in your Facebook ad account. Specifically, if you are using monthly invoices, you will not be able to create a new account to change the advertising currency.
According to Facebook’s policy, you can only change your currency once every 60 days if your account has no balance.
Through the content presented above, you know how to change the currency in Facebook ads successfully. Hopefully, this information will help make the payment process easier when run Facebook ads and the Facebook Ads campaign will achieve high efficiency.
Please see more:
- How to reduce CPM for Facebook advertising campaigns
- How to manage Facebook User accounts in the easiest way
- Instructions for running live stream ads effectively on Facebook
Frequently asked questions
Currently, Facebook is supporting 132 currencies in many popular countries. Countries that advertisers target such as the US, Singapore, Hong Kong, UK,… are all supported and have relatively easy currency conversion policies.
In case, you follow the steps above and still cannot change the currency in Facebook ads, it may be due to the following reasons: the account has not been paid, the ad is waiting for approval, or you changed currency twice in 28 days.
Furthermore, if you are looking at an account that is not a personal ad account. Or use Business Manager and your account is linked to some other account and you won’t be able to change the currency. Create a new account from the Business Manager with the new currency.
