How to Change Account Spending Limit on Facebook

Imagine opening up your Facebook Ads Manager one day only to realize that you've set your budget to $500/day instead of $500 lifetime.

This is what happened this week to a past client of mine. He only noticed this after they already spent $3,500 on Facebook Ads within just a few days.

It's a nightmare scenario. Worst of all, it happens a lot.

3 months ago, I was browsing through Reddit when I stumbled upon this post. This company had mistakenly spent $11,000 on Facebook Ads because they forgot to turn off a campaign.

All it takes for this to happen is a tiny mistake, a moment of not paying attention. When it happens — what can you even do? And what safety plugs can you set in place so this doesn't happen to you too?

Can you ask Facebook for a refund?

Spending this amount of money wasn't intentional, so can you ask for a refund?

Asking doesn't hurt, but there's very little chance that you'll get a refund from Facebook.

If you mistakenly set your budget to $500/day instead of $500 lifetime, Facebook probably warned you that your budget exceeds your average daily budget. They did what they have to do, but it's you who gave the final confirmation.

I recommend contacting Facebook's support, kindly asking for advice and help, but you'll probably have to own your mistake.

However, try to find positive things and learn from them.

Even though you didn't intend to spend all that money on Facebook Ads in such a short amount of time, you at least generated some positive results. You got more clicks than you'd typically generate, maybe even a lead, a Facebook Page Like.

That wouldn't be possible without you making that mistake.

How to prevent this from happening?

Saying to be more careful next time isn't a bulletproof approach towards preventing this. If you're running Facebook Ads for your own business or doing this for a client, you need to know about the Ad Account Spending Limit.

Facebook's Ad Account Spending Limit is a hard limit you can set for your overall spending budget. When you reach that hard limit, Facebook won't spend any of your money anymore until you increase that limit.

Let's say that your budget for the next 2 months is $2,000. Ideally, you would set your Ad Account Spending Limit to $2,000 and would reach that limit within those 2 months.

After 2 months, you could go back and increase the spending limit to whatever budget you please. Most importantly, you'd never spend more than $2,000 until you increase your spending limit.

Setting your Ad Account Spending Limit

If you want to set your Ad Account Spending Limit, you need to be an admin of the ad account in question. If you're working with clients, make sure that your client goes through this process. It will only take a few minutes.

Access the Payment Settings in the Ads Manager.

Click "Set Your Account Spending Limit."

With this limit in place, you still need to be careful when setting up your budget. You don't want to spend all of that limit in one take for a campaign that doesn't work.

However, you can rest assured that any mistake that might happen won't be as costly.

How to Change Account Spending Limit on Facebook

Source: https://superspicymedia.com/articles/prevent-a-costly-mistake-by-ad-account-spending-limit

Share this post