Facebook introduced prepaid balances in 2018 as a way for users to add money to their Facebook accounts that can be used to purchase items within Facebook services. The prepaid balance allows you to make purchases without having to enter your credit card information each time. Many users have added money to their Facebook prepaid balance but now want to withdraw those unused funds back to their bank account or payment method. Here’s what to know about withdrawing your Facebook prepaid balance.
What is the Facebook prepaid balance?
The Facebook prepaid balance, also known as Facebook Pay Balance, is an online wallet where users can store money to be used for purchases on Facebook, Messenger, Instagram and other Facebook services. It works similarly to gift card balances – you add money to the Facebook prepaid balance, and then use it to pay for items rather than using a credit/debit card each time.
Some common uses for the Facebook prepaid balance include:
- Buying games, apps, or virtual items in Facebook Games
- Making in-app purchases on Messenger like stickers or effects
- Sending payments to friends and family through Messenger
- Donating to nonprofit fundraisers on Facebook
- Purchasing ads on Facebook/Instagram as a business
The prepaid balance allows you to make these transactions without having to enter your card details repeatedly. It’s an easy and secure way to pay across Facebook’s family of apps.
How do I add money to my Facebook prepaid balance?
You can add money to your Facebook prepaid balance in a few ways:
- On the Facebook website: Go to Settings > Payments > Manage Prepaid Balance. Click “Add Money” and follow the on-screen instructions.
- In the Facebook mobile app: Go to Menu > Settings & Privacy > Settings > Payments > Manage Prepaid Balance > Add Money
- On Messenger: Open a chat > Tap Payments Icon > Manage Prepaid Balance > Add Money
You can add money using a credit card, debit card, or PayPal account. The minimum amount you can add is $1.00 and the maximum balance allowed is $1000.
How do I use my Facebook prepaid balance?
When you go to make a purchase on Facebook, Messenger, or Instagram, you will have the option to pay with your prepaid balance instead of entering your card details. Here’s how it works on some common platforms:
- Facebook Games: When purchasing a virtual item, select “Prepaid Balance” as the payment method at checkout.
- Messenger: When buying stickers or effects, choose “Prepaid Balance” as the payment option.
- Instagram Shopping: At checkout select “Pay with Prepaid Balance” to use funds from your balance.
- Fundraisers: When making a donation, choose “Prepaid Balance” as the payment method.
If you have funds available in your balance, the purchase amount will automatically be deducted from there rather than charging your designated payment method.
Can I transfer my Facebook prepaid balance to someone else?
Unfortunately, there is no way to transfer your Facebook prepaid balance directly to someone else. The balance is tied to your personal Facebook account and cannot be transferred. If you wish to send money to a friend or family member, you would need to withdraw the funds back to your bank account and then transfer it to them outside of Facebook services.
How do I withdraw funds from my Facebook prepaid balance?
Withdrawing money that you’ve added to your Facebook prepaid balance is easy. Here are the steps:
- Go to your Facebook Pay Balance page from the Settings menu (on mobile or desktop).
- Click “Withdraw Funds” next to your current balance.
- Enter the amount you wish to withdraw. You can select your entire balance or a portion of it.
- Choose your withdrawal method – either back to your original payment method or an attached PayPal account.
- Confirm the withdrawal details and submit the request.
The funds will typically be returned to your account within 1-3 business days. You will receive a notification when the withdrawal is completed. There are no fees for withdrawing prepaid balance funds.
Are there any fees, limits, or restrictions?
Here are some key things to know about Facebook prepaid balance fees and limits:
- No fees for adding money, maintaining a balance, or withdrawing funds
- Balance limit of $1000 maximum
- Withdrawals can only be returned to the original payment method used – credit/debit card or PayPal
- Minimum withdrawal amount of $1.00
- If your Facebook account is closed, you’ll have 30 days to withdraw remaining funds
- Prepaid balances are non-refundable – purchases cannot be reversed or refunded to the balance
As long as you withdraw within the 30 day window after closing an account, there are no fees or penalties applied to withdrawing a Facebook prepaid balance.
What happens if my Facebook account is disabled?
If your Facebook account is temporarily disabled for violation of Facebook’s terms of service, you will retain access to your prepaid balance funds. Once the account suspension is lifted, you can resume using your balance as normal.
However, if your account is permanently disabled, you will lose access to any prepaid balance remaining on the account. Make sure to withdraw your full balance prior to any account termination whenever possible.
Can I get a refund on purchases made with my prepaid balance?
Once you pay for an item using your Facebook prepaid balance, the transaction cannot be reversed. Facebook does not provide refunds back to the prepaid balance for purchases made this way. However, if you paid for an item that was defective, never received, etc., you may be able to request a refund from the third-party seller or platform where the transaction occurred.
For example, if you used your prepaid balance to buy an item on Instagram Shopping that arrived damaged, you would need to contact the Instagram merchant to request a refund to your original payment method – not back to your balance. The prepaid balance itself is non-refundable.
Is my Facebook prepaid balance protected against fraud or unauthorized use?
Yes, Facebook has measures in place to protect your prepaid balance:
- Requires your Facebook login each time you access or use your balance
- Does not display full card numbers associated with your balance
- Sends purchase receipts and withdrawal confirmations to verify transactions
- Provides 24/7 customer support in case unauthorized activity is detected
As long as you keep your Facebook account password secure and don’t share it with others, your prepaid balance will stay protected against fraudulent use. If you ever notice unauthorized payments from your balance, contact Facebook support immediately.
Can I earn interest on the funds in my Facebook prepaid balance?
No, Facebook does not pay any interest or earnings on unused funds kept in your prepaid balance. It functions similarly to a gift card – the balance is stored as credits to be used on Facebook purchases only and does not accumulate interest like a bank account.
Is there an expiration date for unused funds in my prepaid balance?
Your Facebook prepaid balance does not expire, so you can keep unused funds in your account indefinitely. The money will remain available to use until you withdraw it or otherwise use it for Facebook transactions.
However, if you close your Facebook account entirely, you will only have 30 days to withdraw your remaining prepaid balance before losing access to those funds.
Can I track my prepaid balance purchase history and statements?
Yes, Facebook provides a payment history and statement view so you can see your prepaid balance transactions:
- On Facebook: Go to Settings > Payments > Payment History
- On Messenger: Go to Payment Settings > Payment History
This will show you a record of all additions to your balance, purchases made, withdrawals, expiration dates, and current balance. You can use this to track and reconcile your prepaid balance activity.
Is my Facebook prepaid balance protected if my account is hacked?
If someone gains unauthorized access to your Facebook account, they could potentially spend any money in your prepaid balance on purchases or transfers. To prevent this, it’s important to:
- Enable two-factor authentication on your Facebook account
- Create a strong password that’s unique to Facebook
- Watch for any suspicious login locations or activity
- Never share your password with third-party services or sites
If your account does get compromised, you should change your password immediately and report the unauthorized access to Facebook. Unfortunately any unauthorized transactions made from your balance cannot be reversed, but you can withdraw any remaining funds to prevent further loss.
Is my prepaid balance protected if Facebook declares bankruptcy?
Facebook is a large, financially stable company so bankruptcy risk seems very unlikely. However, in the unlikely event Facebook did ever declare bankruptcy, your prepaid balance funds may be considered an unsecured claim and at risk depending on court proceedings. To guarantee keeping your funds, your safest option would be withdrawing your full prepaid balance as soon as any bankruptcy or solvency issues become known.
Can I manage my prepaid balance on desktop and mobile?
Yes, you can manage your Facebook prepaid balance through both the desktop website and mobile apps for Facebook, Messenger, and Instagram. Your balance is synced across platforms.
On desktop, access your prepaid balance settings via facebook.com. In the mobile apps, go to the menu/settings and look for the Payments or Balance section. You can conveniently add, withdraw, and view your balance from any device.
Can I use my Facebook prepaid balance on Oculus?
If you have an Oculus VR headset and Oculus account linked to your Facebook account, you can use your Facebook prepaid balance to make purchases on the Oculus store. When buying apps and games on the Oculus platform, choose your prepaid balance as the payment method at checkout.
Your balance carries over seamlessly across Facebook’s family of products and services.
Conclusion
The Facebook prepaid balance offers a convenient way to pay for products and services across Facebook platforms without constantly entering your card details. You can easily add, withdraw, and track your balance right from your Facebook and Messenger settings. With no fees or expiration dates, it’s a handy digital wallet for Facebook users to store funds for hassle-free spending.
Just keep in mind that the prepaid balance has no protections or guarantees like a bank account – you’ll want to withdraw any funds prior to closing your Facebook account to avoid losing access. As long as you use strong security practices, it’s a safe and easy way to make purchases while keeping your financial information private.
References
Here are some references I used to compile information for this article:
- Facebook’s Help Center article on Managing Your Prepaid Balance
- Messenger’s Help Center article on Using a Prepaid Balance
- Instagram’s Help Center article on Making Purchases
- Oculus article announcing Prepaid Balance as a payment option
These official help articles provided useful details around balance policies, fees, account protection, withdrawals, and usage across Facebook platforms.
Key Takeaways
- The Facebook prepaid balance allows you to store money for easy Facebook purchases
- You can withdraw funds back to your payment method anytime with no fees
- Keep your account secure and watch for unauthorized use of your balance
- Withdraw your full balance if you ever plan to close your Facebook account
- Track your balance activity via Payment History on Facebook and Messenger
- No interest, earnings, or refunds are provided on the prepaid balance
Understanding these key facts helps ensure you can safely add, spend, and withdraw funds from your Facebook prepaid balance.
| Prepaid Balance Limit | $1000 |
|---|---|
| Minimum Withdrawal Amount | $1 |
| Withdrawal Timeframe | 1-3 Business Days |
| Expiration of Unused Funds | No Expiration |
This table summarizes some of the key limits and policies around Facebook’s prepaid balance system.
Withdrawing your unused Facebook funds
Have leftover money in your Facebook prepaid balance? Here is a quick guide to getting those funds back:
- Go to Payment Settings
- Click “Withdraw Funds”
- Enter amount to withdraw
- Select withdrawal method
- Confirm withdrawal details
The money will return to your original payment method within a few business days with no fees. Be sure to withdraw any balance prior to closing your Facebook account.
Using your balance across Facebook platforms
Your Facebook prepaid balance seamlessly carries over for purchases on:
- Facebook – Games, donations, ads
- Messenger – Stickers, effects
- Instagram – Shopping purchases
- Oculus – Apps and games
Just select your balance as the payment method during checkout. Easy!