Downgrade Your PayPal?

The other day, when there was a glitch with PayPal that imposed a fee on our incoming payments even for Mass Pay, I was surprised to know that many of my friends were holding a Premier or Business account. You know, to receive payments, a Personal account would be sufficient.

Sure, the features are a little limited but then why would you need those features when you only use it to accept payments, right?

The limit lies in the number of times the Personal account holder can accept Credit Card transactions (five times a year) and the service fee is a little

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lot higher.

So if you have a Premier or Business account now but do not use the extra features, you may as well downgrade it to a Personal account so as not to get charged 3.9% + 30 cents for individual payments.

To downgrade, you will have to give Customer Service a call (Malaysian accounts are managed by the Singapore office) and provide them with your PayPal email address, telephone number and the last four digits of your bank account number. You can only downgrade your account once so you will have to think of this well and good.

However, fret not. If you find that you require a Business or Premier account in the future, you can always open one as each person is eligible to hold one Personal account and one Business or Premier account, though each account must have their own bank account or credit card information.

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