To send funds from your Indiana 529 Advisor Savings Plan account directly into your Backpack account, you'll need to add Backpack as a new bank account to your Indiana 529 Advisor Savings Plan account. This is a one-time setup that will make future transfers quick and easy.
Do you use a Financial Advisor?
Financial Advisors are familiar with how to add a new bank account (like Backpack's) to investment accounts and will be able to assist with linking your 529 Plan to Backpack.
To help answer any questions your Financial Advisor might have, you can share this guide with them - What Financial Advisors need to know.
Adding Backpack as a Bank Account
Overview of steps:
Go to your Indiana 529 Advisor Savings Plan Portal and log in with your credentials.
Locate the "Forms & Literature" section: You can find this section on the Indiana529 Advisor website.
Download the "Automatic Investment/Electronic Transfer Form": This form allows you to add or change bank information for electronic contributions.
Complete the form: Fill out the form with your updated bank account details, including your bank name, routing number, and account number.
Enter Your Backpack Account Details (found on your Backpack Dashboard):
Bank Account Owner: [Your Name]
Bank Account Type: Checking
Routing Number: [Your Backpack Routing Number]
Note: The bank may show as “Old Missouri Bank” — Backpack’s banking services are provided through Old Missouri Bank (OMB), a chartered bank who hold Backpack's accounts.Account Number: [Your Backpack Account Number]
Submit the form: Submit form on the Indiana529 Advisor website.