Is your Facebook account or page eligible to earn from its contents? This article will give you a comprehensive guides, with images illustration, on how to complete your payout setup and add your bank account.
So, without wasting much time, let's dive straight into the primary reason of this article. However, before that, if you want to watch the video processes of how to carryout the set-up, you can click on the video below to watch it.
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How to set-up payout account on Facebook
I will explain the set-up process step by step. If you're my YouTube fans, this article will help you in following up your setting up. Instead of switching to watching the steps on video, you can easily follow the steps here. Now, let's begin.
Step 1: Confirm your eligibility on Facebook
First of all, you need to confirm that your Facebook account or page is ready for monetization. You can earn through partnership ads, stars, ads on reels, bonuses, in-stream ads, and subscriptions.
Once you're eligible for any of these earning features, then you'll have access to set up your payout account and add your bank account to Facebook.
Step 2: Select page/account that's eligible for monetization
This is an important aspect of the setup because not all your Facebook page or account will be eligible for monetization at the same time. To select page that's eligible for payout:
- Login to your Facebook account and tap on the profile icon.
- Next, click on the drop-down icon as it's highlighted in the image below to select page that's eligible for monetization.
Once the page is chosen, tap on "professional dashboard" on the page, and then proceed to payout setup, as they're highlighted in the images above.
Step 3: Set up payout account
This is where the real setup begins. However, it's important to note that all the information you'd enter here must be correct and accurate. If you're a business, the information you must enter must be pertaining to your business information except Facebook explicitly makes it clear that your personal info is to be submitted.
What you would need to complete this set up are:
- Taxpayer Identification Number (TIN): If you're a business or individual, your TIN is required to complete Facebook monetization payout account set up. If you don't have a TIN, you don't have to worry because it's now easy to get a TIN on the Joint Tax Board website. Watch the video below to learn how to get your TIN easily in Nigeria 100% online.
- Full Legal Name: If you're setting up as a business, your business registration name would be required. For as an individual/sole proprietor, your full legal name as it's seen in your ID card and bank account is required.
- Filling of Tax Agreement: You have to file your Tax according to the country where your business or you operates. In this space, two things are involved: of your business operate in the U.S or outside the U.S. The primary reason for this tax filing is to know on what country's policy you're to be taxed.
- Address: You'll be required to submit your address or business address if you're registering as a business or company.
- Bank account for payout: You'll also be required to submit your bank account. PayPal is acceptable as well. However, it's important to note that the bank you're submitting must carry your name or business name. Your bank's swift code for international transaction will also be required. You can ask your bank for that or Google it.
- Email Address and Phone number will also be required.
These are the documents and information needed to setup payout account for Facebook Monetization. Once you have all these documents and information in place, you can begin to fill the payout form.
Lastly click on "Submit Form" to submit your application.
Usually, it takes 2 to 7 business days for Facebook/Meta team to review your application and get back to you with their decision. Any decision made will be sent to you via registered email.
Once approved, the email message will look that the stated in the image above.
Conclusion
In conclusion, setting up a payout account for monetization on Facebook is a straightforward process that enables content creators to earn revenue from their videos and other monetized content. First of all, ensure that you or your page is eligible to monetize, then select a suitable monetization method, provide your accurate payment details, file your tax agreement form and adhering to Facebook's policies.
If you follow all these procedures, you will successfully configure your payout account. However, it's important for you to regularly monitor the account for compliance and updating payment information as needed will help ensure smooth and timely payouts. Also, focus on producing engaging content while reaping the financial benefits of your efforts.
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