Facebook Marketplace Payment Methods: Which One Should You Choose?

Facebook Marketplace is a lucrative platform for resellers. Learn how to get paid for your products through this feature.

Facebook Marketplace is becoming popular as a platform for reselling anything under the sun. It’s easy to snag deals on an upcycled sofa, get a Halloween costume for less, and find vintage jewelry that’s well within your locality. With new reselling platforms sprouting at a fast rate, it can be easy to forget how a goldmine Facebook Marketplace is. 

Its strength lies in the millions of people checking the platform daily, with the US ranking second to India in its audience size of 197.6 million. This information means there are a lot of reselling opportunities in Facebook Marketplace. Snap a photo of what you want to sell, post it, wait for DMs to talk about pricing, and get paid. Plus, it’s free to add listings. 

We will discuss in this post the basics of reselling in Facebook Marketplace, and more importantly, how you can get paid and what’s the best option for your needs. 

Setting up your Facebook Account for reselling

Sign up on Facebook to access Facebook Marketplace if you don’t have an account yet. If you are an existing Facebook user, check if your profile has the following:

• Your real photo: Buyers trust you more when it’s you in the photo-not a pet, your kid, or a cartoon character. 
• Your profile is set to Public: This step also allows buyers to see your past posts and build trust. You can change it anytime in Privacy and Settings. 
• You have used your real name and location: Buyers can find you better if you’re not hiding under a fake name and address. Usually, listing your city is enough for the location. 
• You have followed Facebook’s Community Standards: To fully enjoy the selling privileges of the platform, make sure you follow these guidelines. 

Accessing and Selling on Facebook Marketplace

On Mobile

• Tap the three horizontal lines and scroll to “Marketplace”
• Tap “Sell”. The “Create New Listing” menu will appear, with the choices Items, Vehicles, and Homes for sale or for rent as options. 
• Tap “Items”
• You’ll be prompted to add photos, fill in the listing title, price, category, condition and description. 

Don’t see Marketplace on your menu? Update your app, logout, and check if Facebook Marketplace is available in your area. 

On Desktop

• Marketplace can be found on the left sidebar. 
• Don’t see it? Try searching Marketplace on the search bar. The Marketplace page will then appear. 
• Alternatively, tap the three horizontal lines to get to the Menu, then search Marketplace on the search menu bar. 
• You will be taken to the Marketplace page. At the left sidebar, you can see the options Browse All, Notifications, Inbox, Buying, and Selling. 
• You can also see the “Create New Listing” button, Location, and categories. 
• Tap “Create New Listing” to add products to sell then fill in the necessary information. 

Tip: Facebook Marketplace is available only for 18+ accounts. 

Getting paid on Facebook Marketplace

Getting paid on Facebook Marketplace involves two steps: first, by setting up your payment preferences and then choosing the right payment method for you. 

Payment Preferences

This can be accessed by navigating to “Account Settings”, then choosing “Payments”. You’ll then be prompted to choose your preferred payout methods. For payment methods involving banks and payment accounts like Paypal and Zelle follow the on-screen prompts. 

Tip: Be careful when entering your account methods-make sure you verify them to ensure seamless receipt of payments. Also check privacy and safety settings to help you minimize the risks that come with selling. 2FA (two-factor authorization) is very helpful in these cases). 

Payment Methods

Mobile payment apps:Apps like PayPal, Venmo, Cash App and Zelle belong to these groups of payment methods. They are convenient and offer minimal transaction fees. 

Best for: Online transactions, low value items

Pros: No need to meet-up for payment, real-time transactions

Cons: May be used for scams 

Cash payments: In certain cases, cash is still king, especially when dealing with local pickup items. 

Best for: Quick local deals in person. 

Pros: Instant and without processing fees

Cons: There may be risks with fake money and large sums of cash.

Facebook Checkout (For Shipped Items only): Yes, Facebook Marketplace also offers checkout for shipped goods like other marketplaces. Choose this if you are dealing with high value sales. 

Best for: shipped items

Pros: Facebook handles payment with protection for both buyer and seller. 

Cons: Has a fee and both seller and buyer use Facebook. 

PayPal Goods and Services: Another option you can try is PayPal goods and services. Just like Facebook checkout, it also offers buyer Protection for eligible transactions, and not to be confused with the PayPal “Friends and Family” payment option. 

Best for: Sales outside your locality, high-value items. 

Pros: Has strong buyer and seller protections, and a streamlined dispute process. 

Cons: Collects fees for sellers

What Payment Option Should I Use? 

There is no right or wrong option-it all depends on what you need for the moment. You can even include several options to give convenience to your buyers and increase sales. Here are several things you should consider in choosing a payment method for selling in Facebook Marketplace. 

Sales Method. The sales method depends on the item/s you are selling. It could be in-person, online or by mail. For example, small items can be sent through USPS, while a couch is best bought in-person. 

Buyer-seller trust. Selling locally allows you to build trust with your buyers especially when they know where to typically find you (it doesn't need to be your actual address, though). For online transactions involving high-value items and large sums of money, buyer protection through platforms is desirable. 

Tips when handling payments

• When paying in cash, always meet in a well-lit public area. Having someone with you helps too.
• For online payments, double-check payment confirmations via email and screenshots to see if they are legit and not edited. 
• Be wary of overpayments. Some scammers overpay so that you can issue a refund, especially for payment apps. If something feels off, leave or cancel the transaction. 
• Unusual payment methods. Stick with payment methods you are familiar with. Be wary of links sent by buyers during online transactions-it could be phishing links that try to get your information. 
• Send as little personal banking or payment app information as possible-share only what’s needed to make the transaction push through. 

Frequently Asked Questions on Facebook Marketplace and Payment Methods

Can I accept cash for my items sold on Facebook Marketplace? 

Yes. It’s ideal for when you are selling locally and can arrange meetups for real-time transactions. 

Is it better to offer multiple options? 

While it is helpful to do so, it depends on the items you are selling. 

My buyer wants a refund for a non-existent flaw. How do I deal with it? 

In cases like this, documenting your item well (photos, screenshot of listing descriptions) will protect you. Refund only with necessary and with evidence, and with professionalism. 

What common payment scams should I watch out for? 

Watch out for fake payment confirmations, doubling payment and requesting for a refund, rushing through transactions, even labelling you as a scam-these are tactics to mislead and eventually scam you.

Where should I communicate with buyers? 

Make use of Facebook Messenger instead of handing out your personal number. This way you can keep a record of your negotiations. It’s also easier to block out unwanted messages from buyers and ultimately hide your listings from them. 

Can I crosslist my items in Facebook Marketplace to other platforms? 

Crosslisting is highly recommended, whatever reselling platform you are using. Facebook Marketplace has a robust reach, but crosslisting raises the chance of your listing getting seen and eventually sold. 

Our Final Say

Selling online now comes on different platforms, and Facebook Marketplace remains one of the most promising for resellers due to its wide reach. Following community standards and choosing the payment methods best suited for your reselling business will help in making your Marketplace account profitable.