But if you haven't already done so, you have to go back to Paypal and set up your existing Paypal account as a "merchant" account. I did it years ago even though I don't regularly sell on the net, and it's proved invaluable.
I can't remember exactly what to do, but go to the Paypal site, sign into your account, and explore all the minor links. That's what I did, and when I found the right option, I just did what the screen told me to. I have a dim memory of it being awkward, but it's worth it.
I just set up an account to use to PAY with. I never did anything about being a "merchant." I never even let them access my BANK account, only my credit card. People just send me money and it sits in there till I spend it. That's even how I am paid by printerstudio for sales of my deck. the only thing I DID do was make it a - something or other - account so that I could take credit card payments.
I seem NOT to have a business account; I do have a merchant number. I can't tell, but I vaguely recall upgrading to premier at some point. ETA at Daniel - REALLY ? My account has no fees at all. Well, except for accepting credit card payments - just as stores have to pay a fee on each one.
I just looked, and it seems you can upgrade a personal account to a premier account... On a forum there where others have had the same problem, it seems you have to go to "Select the business account" option and during the registration part select "individual" instead of registered company.
But I received money to the account before I upgraded, when I sold a load of MiL's stuff on ebay.......
Don't worry - it will be fine.