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College and University Discussion
Reply to "Processing time for 529"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I scheduled a transfer from MD529 to our checking on a Friday morning and had the funds on Monday (they said it would be Tuesday). I prefer this to having them mail a check, which we’ve never done. We always have the paperwork from the school confirming our out of pocket expense. We can initiate the transfer online. I’ll do this at least a week prior to the due date all the same.[/quote] This is what we do. Much easier.[/quote] Same with me. I had an issue at one point with the check either not being mailed, being lost, something or other (American Funds). So now I pay myself first and then do an electronic transfer from my checking account to the school.[/quote] This is OP again. I'd be happy to pay ourselves, but DH is concerned about something -- maybe having the necessary documentation? I don't know. His logic seems flawed, but I don't want to start an argument over this. This is also the 529 my parents set up, so that is another concern since we aren't the actual account owners/holders. This one was basically cash starting in January, so it has lost very little over the last few months, compared the plans DH and I set up (which lost 5-10%), so that's why we wanted to use this first and let ours have a chance to grow back the 5-10%. [/quote]
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