Transferring money from one Facebook account to another is easy with Facebook Payments. Facebook Payments allows you to securely send and receive money between Facebook friends. Here are the steps to transfer money on Facebook:
Add a Payment Method
Before you can send or receive money, you need to add a payment method to your Facebook account. Here’s how:
- Open the Facebook app on your mobile device or log into Facebook on your computer.
- Go to your Settings and select “Facebook Pay” or “Payments”.
- Click “Add Payment Method”.
- Enter your debit card information or link a PayPal account.
- Follow the instructions to verify your payment method.
Once you’ve added a payment method, you’re ready to start sending and receiving money.
Send Money
Sending money to a Facebook friend is easy. Here are the steps:
- Go to your Facebook Payments page.
- Click “Send” or “Pay” to start a new payment.
- Enter the name or Facebook profile link of the friend you want to pay.
- Enter the payment amount.
- Add a note if you wish.
- Click “Continue” to send the payment.
Your friend will receive a notification that you’ve sent them money. They can then accept the payment, which will deposit the money into their own linked payment method.
Request Money
You can also request money from a Facebook friend. Here’s how:
- Go to your Facebook Payments page.
- Click “Request” to start a new request.
- Enter the name or profile link of the friend you want to request money from.
- Enter the request amount.
- Add a note explaining the request if you wish.
- Click “Continue” to send the request.
Your friend will receive a notification of your request. They can then choose to ignore or pay the requested amount to you.
Accept Money
When someone sends you money on Facebook, you’ll receive a notification. To accept the payment:
- Click on the notification or go to your Facebook Payments page.
- Click “Accept” next to the pending payment.
- The money will instantly deposit into your linked payment method.
The money typically takes 1-3 business days to show up in your bank account or PayPal balance.
Payment History & Activity
You can view your full payment history and activity on Facebook by going to your Payments page and selecting “Activity”. This will show you:
- Money sent
- Money received
- Pending sent/received payments
- Rejected/refunded payments
- Payment requests sent and received
Reviewing your payment activity is a good way to keep track of money transfers on Facebook.
Payment Limits
Facebook currently has the following limits for sending/receiving money:
- Maximum payment amount: $10,000
- Maximum daily amount: $10,000
- Maximum weekly amount: $20,000
- Maximum monthly amount: $60,000
- Minimum payment amount: $1
If you try to exceed these limits, your payment or request will be declined. Limits may vary by country and payment method.
Facebook Pay Fees
Facebook does not currently charge any fees for sending or receiving money through Facebook Payments. However, if you fund payments with a credit card, the card issuer may charge a cash advance fee. PayPal also charges a fee for instant transfers from a PayPal balance.
Supported Countries
Facebook Payments is currently available in the following countries:
- United States
- United Kingdom
- France
- Italy
- Spain
- Germany
- Australia
- Canada
If you have a Facebook account tied to one of these countries, you should be able to use Facebook Payments.
Supported Payment Methods
You can link the following payment methods to Facebook Payments:
- Debit card – Must be issued by a major card network (Visa, Mastercard, etc)
- PayPal – Instant transfer fees may apply
- PayPal Balance – No fees for standard deposit time
Credit cards and some prepaid debit cards may not be accepted. You cannot link a bank account directly.
Security & Privacy
Facebook Payments uses advanced security measures to keep your information safe, including:
- Encrypted data transmission
- Payment authentication and verification
- Account alerts for suspicious activity
- FB dedicated customer support for issues
Facebook also has privacy restrictions so your payment activity is never shared publicly on Facebook without your consent.
Troubleshooting
Some common issues when transferring money on Facebook include:
- Payment method declined – Your card/PayPal was rejected. Verify account details or contact customer support.
- Recipient not found – Make sure you have the correct profile link/spelling of your friend’s name.
- Exceeded payment limit – You’ve hit a daily/weekly/monthly limit. Wait and try again later.
- Pending payment – Your friend hasn’t yet accepted the money you sent.
If you run into other problems, you can find help through Facebook Payments customer support in your Facebook Settings menu.
Pros of Facebook Payments
Here are some of the advantages of sending money through Facebook:
- Easy and fast transfers – Great for splitting bills, gifts, etc.
- No fees – Free to send and receive money.
- Convenient – Already connected with recipients.
- Secure platform – Heavily encrypted and verified.
- Mobile friendly – Manage payments on the go.
Cons of Facebook Payments
Some potential downsides to consider include:
- Limited countries – Only available in 8 countries right now.
- Payment limits – Caps on daily/weekly/monthly amounts.
- No bank transfers – Can only use cards and PayPal balance.
- Third party fees – Possible card cash advance/PayPal fees.
- Account monitoring – Facebook tracks your activity.
Conclusion
Transferring money through Facebook Payments is an easy and free way to send funds to friends and family on Facebook. Just add a card or PayPal, choose a recipient, enter an amount, and send. Recipients can then quickly accept the payments into their own connected accounts.
While there are some limits and potential fees to be aware of, overall Facebook Payments provides a convenient person-to-person payment option if you regularly need to send money to people you’re connected with on Facebook.
For a quick visual guide, here is the process for sending money on Facebook:
| Step | Screenshot |
|---|---|
| 1. Go to Facebook Payments | |
| 2. Click Send | |
| 3. Enter recipient and amount | |
| 4. Confirm and send |
Following these steps will allow you to seamlessly transfer money to friends on Facebook.