Now the thing that used to set me off was the convoluted phone system that required me to eventually hit “0” and speak to a representative every time I wanted to withdraw money (about 8 times a year, with two kids in college). So I’d go through this procedure and they would transfer the money to my linked checking account about two days later, so I could pay the bills.
About a month ago I get an e-mail telling me they now have on-line withdrawal capabilities. Yippee – no more convoluted phone system!
Naturally the first two times I try to enroll – it won’t let me, but third time’s the charm. I enroll both accounts and make my first withdrawal. Wait, what’s this? You’re going to mail me a check and I’ll get it in about six days?
Correct me if I’m wrong but isn’t the on-line experience supposed to be easier and faster? The frustrating part is that they already have my checking account info – they’ve been transferring money to it for two years. All they had to do was add a “transfer to checking account on file ending in xxxx?”
So my choices are these: use the frustrating phone system and get the money in two days or use the not-so-frustrating on-line system and get it in six? Or just move the 529 plans to a less clueless institution – yeah, that might be the way to go.
