Change/downgrade from a business account to a personal account AND transfer existing funds
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I am the Sole Proprietor of a business using PayPal to accept payments for digital goods and services. I opened a business account many months ago for this purpose thinking that the business account was the best option. It has been successful up until recently when my account was put on hold (possibly because business has picked up in the last few months) and I was asked to verify the account with a Business Registration number and formal proof of registration/beneficiary owners. I don't have these documents - they aren't applicable to my situation - but the account is currently reflecting as a partnership.
I know it is possible to downgrade to a personal account by opening a new one and closing the business account - but it currently has funds in and so this doesn't seem to be an option.
Is there a way to change a business account to a personal account WITHOUT closing the account?
OR
Is there a way to close a business account but first transfer the existing funds to a personal account?
Any advice or assistance would be greatly appreciated.
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There is no automatic way to downgrade a business account to a personal account, you have to contact customer services and they will do that for you.
Contact options for each countries Paypal customer services are accessed by clicking help/contact bottom left of Paypal pages.
1. Paypal phones (you can use the guest option if you can't log in).
2. Live chat is also randomly available.
3. You can send them a message, (during business hours you may also be able to message whilst logged out).
Advice is voluntary.
Kudos / Solution appreciated.
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I have spoken to several agents via message to try and resolve this issue. Unfortunately, none of them could although we tried several different options.
It seems it is not possible to take action like this on an account that has a limitation - which places one in deadlock. I needed to change the account to personal so that I wouldn't be required to upload business registration documents. However, I needed to upload business registration documents to get the limitation lifted before I could change the account to a personal one!
So my only option (which was not preferable) was to pay for a registration of my one-person business name and upload the documents required.
The issue is now resolved, thank you.
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How did you resolve it?
Did you pay for your business registration and upload the documents?
Did your funds on business account move to your personal account?

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