I currently have a paypal personal account and would like to upgrade to merchant due to an increase in payments being made. My question is, if I currently have an account balance from prior payments, what will happen to that amount? Will it be re-adjusted to fit the deductions of the merchant account or will it not change? Should I transfer all funds out before I upgrade? Any help and insight into the matter will be greatly appreciated.
When you upgrade to the Business or Premier account, your account balance would remain. Only all future receipt would get subjected to the paypal fees but not those made before the upgrade.
I'd recommend upgrading to premier and not business unless you really own a business and have the documentation to prove it. It's VERY important that you have the documentation.