Google Ads is making changes to its payment methods, requiring certain high-spending advertisers to transition from credit or debit card payments to bank-based options by July 31. Google is notifying impacted advertisers of this change, emphasising the benefits of more automated payment methods for scaling ad investment.
The transition to bank-based payment options includes Monthly Invoicing with 30-day payment windows and Direct Debit for Automatic Payments, where available. Cards will no longer be accepted for these accounts, which Google believes will provide more flexibility and control for high-growth spenders.
This change reflects Google's efforts to streamline its payment processes and encourage advertisers to use more efficient payment methods. However, this transition could potentially lead to account suspension and cashflow issues for advertisers who rely on card payments for flexibility.
Google is notifying impacted "high-growth" accounts throughout 2024, although specific criteria such as spend thresholds are not clear. Manager accounts must also update billing centrally to comply with these new payment requirements.
At R17 Ventures, we understand the importance of staying informed about changes in digital advertising platforms. Our team is dedicated to helping you navigate these changes and optimise your advertising strategies. Contact us today to learn more about how we can assist you in adapting to these new payment requirements and achieving your advertising goals.