To withdraw your 529 funds directly into your Backpack account, you need to add Backpack as a new bank / financial institution on your Texas College Savings 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:
Adding Backpack as a Bank Account
Log in to your Texas College Savings Account:
Visit the Texas College Savings website and log in using your credentials.
Navigate to "View / Add Bank Account":
From the home page, go to the "Account Maintenance" section on the left hand navbar.
Click on “View / Add Bank Account”.
Add Bank Account Details:
Click on “Add Bank Account”.
Enter your Backpack account details (these can be found on your Backpack Dashboard when you first log in to Backpack):
Routing Number: [Your Backpack Routing Number]
Note: When you enter your routing number, you will see the Bank name auto-populate as “Old MO Bk”. Banking services for Backpack are provided via Old Missouri Bank (OMB).
Bank Account Owners Name: [Your Name]
Bank Account Number: [Your Backpack Account Number]
Bank Account Type: Checking
Click Submit
Backpack Account & Routing numbers can be found on the Backpack Dashboard or under Settings.
Note: When you enter your routing number, you will see the Bank name auto-populate as “Old MO Bk”. Banking services for Backpack are provided via Old Missouri Bank (OMB).
Withdrawing to Backpack
Initiate a Withdrawal:
From the home page of your TCS account, click the Withdraw button.
Select Withdrawal Type and Enter Amount:
Choose the type of withdrawal you want to make.
Enter the amount you wish to withdraw and click "Next".
Select your Backpack account (Old Mo Bk) from Bank Accounts:
From the list of linked bank accounts, select your Backpack account.
Complete the Withdrawal:
Review the details of your withdrawal.
Click "Finish" to complete the process.
By following these steps, you can successfully link your Texas College Savings account to Backpack and easily make withdrawals for your education-related expenses. If you encounter any issues or need further assistance, please contact Backpack support.