If your ad account is set up for manual payments (meaning you add money to a balance on your account), you won't be able to add a payment method in the same way that's shown here. Also, some payment methods won't be an available option for you to use (such as PayPal). Learn more about manual payments.
A video walk-through of this guide can be found here:
A video guide on how to set up a payment method for Facebook & Instagram Ads
If you've added a payment method to your Facebook account before (like to purchase games or apps), you'll see it listed as one of your payment methods. You can remove it if you no longer want it available in your account.
Steps to remove a payment method from your ad account
Step 2: In the Payment Method section, find the payment method you want to remove and then click Remove on the right.
If you don't see the payment method you want to remove, click Show More to display all of your ad account's payment methods.
Step 3: In the confirmation screen, click Remove.
Your payment method will be removed from your ad account.
Tips for Managing Payments
You can always check what amount your billing threshold is set to in your Payment Settings. Knowing your billing threshold can help you keep track of when you'll receive your next bill for your ads
You don't have to wait until you've reached your billing threshold or your bill date to pay for your ads. As long as you have a current payment method associated with your ad account, you can pay whenever you're ready.
When you make a payment for your Facebook ads, the transaction will appear in the Billing section of your Ads Manager. Every transaction includes a receipt that shows details about your payment, like how much you spent, the reason you were billed, the campaigns that spent money, and the results your ads got you