Why:
Use this article to learn how to withdraw your 529 funds directly into your Backpack account. Hint: you need to add Backpack as a bank / financial institution on your NextGen 529 by Merrill Edge
Benefits:
This easy setup will enable seamless future tuition payments and allow you to spend your 529 on textbooks, laptops, groceries, and more with just one click.
Linking Backpack Account to your NextGen 529 by Merrill Edge
Adding Banking Information
Log into your NextGen 529 by Merrill Edge account
Navigate to the "Funding" section, and link your desired bank account by providing the necessary account details
Log into your Backpack account
Enter your Backpack account details into the Alaska 529 Add Bank Information section. Backpack Account & Routing numbers can be found on the Backpack Dashboard or under Settings.
Bank Name: [Backpack]
Bank Routing Number: [Your Backpack Routing Number]
Bank Account Number: [Your Backpack Account Number]
Bank Account Registration: [Your Name]
Bank Account Type: Select Checking
7. Submit to complete account linking.
Withdrawing to your Backpack Account
It’s tuition time! Let’s withdrawal funds from your 529 into your Backpack account so you can make your tuition payment.
Initiate distribution online by signing in to your NextGen 529 by Merrill Edge