It’s tuition time! Let’s withdraw funds from your 529 into your Backpack account so you can make your tuition payment.
Log into your 529 account.
Select "View Details" for the beneficiary plan you wish to withdraw funds from
Select "Make a withdrawal" from the lefthand side menu
On the Make a Withdrawal page follow the instructions and under "To whom should we send the funds?" select "To Account Owner, Electronic payment to a bank account"
Select your Backpack account (typically named Old Missouri Bank). Note: Banking services for Backpack are provided by Old Missouri Bank (OMB).
Follow the remaining steps to enter the amount and submit the withdrawal.
Note:
Withdrawals from a 529 Plan can take up to 4 business days before they are deposited into to your Backpack account.
Withdrawing from your 529 Plan typically requires your 529 Plan to "sell" your investment position before they can initiate an ACH transfer.
Backpack will notify you when your funds are deposited into your Backpack account.