To withdraw your 529 funds directly into your Backpack account, you need to add Backpack as a bank / financial institution on your CollegeAmerica 529 account. 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.
Don’t worry, this is a one time setup, making future tuition payments and the ability to spend your 529 on Textbooks, laptops, groceries and more a one-click process.
Follow our step-by-step guide below or you can also watch the video walkthrough below.
Step-by-step guide:
Step 1: Log in to Your Florida 529 Plan Account
Visit the Florida 529 Savings Plan website.
Log in to your account using your username and password.
Step 2: Access Your Profile
Once logged in, click on your profile icon located in the top right corner of the page.
This will take you to your profile page.
Step 3: Enter New Financial Information
On your profile page, look for the green text link that says "Enter new financial information" and click on it.
Step 4: Add Your Bank Account Information
You will see fields where you can enter your bank account information.
Enter your Backpack account details (these can be found on your Backpack Dashboard when you first log in to Backpack, see screenshot below):
Financial Institution: Backpack
Routing Number: [Enter Backpack's routing number]
Account Number: [Enter your Backpack account number]
Account Type: [Checking]
Click Save Changes
Backpack Account & Routing numbers can be found on the Backpack Dashboard or under Settings.
Note: Your Backpack account may show as OMB Bank. Backpack is a financial technology company, not a bank. Banking services are provided by OMB Bank, Member FDIC.
Step 5: Save Your Changes
After entering your Backpack account information, click on the "Save Changes" button.
Step 6: Verification Period
The Florida 529 plan takes up to 15 days to verify your newly added bank account.
If you have an upcoming educational expense, make sure to add your bank account well in advance to allow enough time for verification.
Video Walkthrough - How to link to Backpack & make withdrawals?