Microsoft has announced on the Bing Ads blog that Bing Ads will be ending its monthly budgets feature, instead replacing it with daily budgets.
Monthly budgets allowed advertisers to set an amount they'd like to spend per campaign, per month. From April, advertisers will now only be able to set daily budgets.
Advertisers still using monthly budgets will need to move to daily budgets before some point in April, particularl before April 30th. Any advertisers who don't migrate will be automatically converted to daily budgets, which will be calculated by taking their monthly budget and dividing it by 30.4.
Additionally, any Automated Rules that are set to use monthly budgets will not be migrated and will no longer function.
Ultimately, this change will require more thought when choosing budgets, to ensure spending is kept at manageable levels on a monthly basis, despite the caps being set daily.