New requirements for advertisers promoting financial services in Australia…
Beneficiaries and payers
Go to your ad settings and click Default Beneficiaries & Payers.
You may already have these defined for the EU, and more recently these have been added for Taiwan. Now you may see the Australian section.
When advertising financial services in Australia, beneficiaries and payers need to be defined here. You need to define who benefits and who pays for advertising.
Once you click “Start,” you’ll see that there is a slightly more complicated verification process.
Yuan said the following…
From 4 February 2025, advertising financial services in Australia will require the following information:
1) Verified beneficiary and payer information and
2) Australian Financial Services License number or verified confirmation that the individual or organization is exempt from this license requirement.
Do you need to do this?
Again, don’t worry if you’re not planning on promoting financial services in Australia. Otherwise, you have until February 4th to resolve the issue. Since the verification process can take some time, I wouldn’t wait until the last minute.
Check Meta’s documentation for more details.
