Cheers,
 Funds transferred from the wallet into which I imported the private key from the paper wallet to a new wallet setup with the same seed keys as the Electrum default wallet. Just waiting for transaction to be confirmed...

Thanks for the information guys - sorry should have realised the m stood for Milli!

"Since you have 'just' imported the private key, you might consider creating a new HD wallet (which gives you a 12 word seed phrase as a backup) and send your funds over there (sweeping).
This way your old private key will be worthless, and your new wallet (backed up by 12 words) will hold your balance."

 So I created a new wallet using the same seed key and I've tried to send the funds over I set the amount to "0.028" to transfer the entire amount, but I get a message about insufficient funds in the account.

Also, I get a message about "should this transaction be replaceable?" - not sure what that means

Thanks in advance!
 

Hi,
 I've just signed up to electrum and created a new wallet importing a bitcoin private key from a paper wallet (it was a gift). I have the private bitcoin address and have checked the balance online, it gives 0.028 bitcoins, but when I've imported into electrum I see 20.818 mBTC, whats the mbtc? If I wanted to later convert this into BitCoins or sell/use it, how would I do that?

Thanks