After you initiate a withdrawal from your 529 plan, it typically takes 3-5 business days for the funds to reach your Backpack account. Here's a brief overview of the process:
Liquidation of Assets: The investments in your 529 plan are liquidated. This step generally takes 1-2 business days.
ACH Transfer: Once liquidated, the funds are transferred to your Backpack account via ACH (Automated Clearing House) transfer. This transfer usually takes an additional 2-3 business days.
If you have any questions or need assistance, please contact our support team at support@backpack529.com or via the Intercom chat widget on our website.