When you switch your billing period from monthly to annual, our system will attempt to charge the credit card on file the full annual amount minus the days that have passed during your current billing month.
For example, if your site is billed on the 1st of every month and you switch to annual billing on the 15th, our system will charge for 11.5 months at the annual rate. Next year, your site will renew for the full annual period (12 months).
Our system will attempt to collect from your account during the next nightly batch processing that follows the upgrade. If the collection attempt is declined, your account will be considered overdue and you risk account suspension. Make sure that the credit card on file is valid.
Billing statements for your billing period switch will be available in your Control Panel the day after you make the switch.
For instructions on how to switch your billing period, see:
How do I change the billing period for my site?.