I am planning to downgrade my premier account to a personal account. Then I shall make another premier account and transfer the funds from the personal account to the newly made premier account. I currently have $1k in my account. SO in the end after transferring the funds to my newly made premier account I am planning to close the downgraded premier to personal account. SO I'll be left with 1 account (premier) Is this allowed according to Paypal rules?
Is there a reason why you want to do this ? You said you have already a Premier account and going through what you are planning to go through is not only troublesome, costly and I don't see any advantage to it. Troublesome because you will need to have all the accounts verified using different credit cards or bank account. Costly because receipt by a Premier account would mean that you will be paying paypal fees just for transferring from your personal to your premier account. No advantage because in the end, you land up in square one which is start with a premier account and end up with another. I am pretty sure that Paypal may question the purpose of this move. If you need to change email address, mailing address, bank account or credit cards, you can always do the changes in your profile easily. Any other changes can be done by contacting Paypal.
Well, I have a purpose which unfortunately I cannot divulge. I don't mind the cost involved ( about $50) or the verification for that matter.
IMHO, your best option is that if you have any issues, contact paypal and tell them your situation and see how best they can accommodate your needs. If it is not breaking any laws and within your contractual agreement with Paypal, I don't see why it cannot be done. If what you are doing is try to circumvent some rules or engage in some illegal activities then it is best not to even consider.
It is not to engage in any illegal activites, what actually happened is that my account got kinda blacklisted due to a buyer's false complaint in a main marketplace. (not a webmaster forum)
I guess no matter what you do, it would not clear your name since both accounts would be associated unless you use different names.
I am not sure if you can downgrade ... i guess so far only upgrade path is defined.. But anyways.. As per PayPal policy, you are only allowed to have 1 Personal and 1 Premier or Business account. and with my past experience, if you create a new account with same name/address, you are SURE to GET caught and you may loose everything.. I am into VCC business and i know a lot better.. My ADVICE Go Talk to PayPal and tell them what you intend doing. Wait and see what they have to say about this. If this account of yours is a FAKE one. Then you know what to do. regards, Mainienator