I just want to take the cash out of a UPromise account.
http://www.upromise.com/
How???
TIA!
Full Version: Does anyone know how to cash out a UPromise account?
You mean they let you do that?!! 
j/k
j/k
QUOTE(dejavu @ 3-13-05, 7:32pm)
QUOTE
You can withdraw your Upromise contributions at any time during your membership in the Upromise Rewards Service. To withdraw company contributions from your Upromise account, submit a letter in writing to Upromise requesting a withdrawal from your Upromise account. The letter must state your full name and the exact amount that you would like to withdraw, up to total amount available in your account, pending contributions are not eligible for withdrawal.
For the protection of our members, we require a Signature Guarantee on all withdrawal requests in excess of $200. A Signature Guarantee is a guarantee you can obtain from a financial institution, such as your bank, that your signature is yours and that it is genuine. It is not the same as a notary, as a notary states that a document was signed in the presence of the Notary Public, it does not validate the signature itself. This Signature Guarantee should be placed next to your signature on the withdrawal letter.
Withdrawal letters should be sent to:
Upromise
ATTN: Customer Care
P.O. Box 55555Boston,
MA 02205-5555
Checks are sent once per calendar quarter, so you should typically receive your check within 12 weeks of your request being received.
For the protection of our members, we require a Signature Guarantee on all withdrawal requests in excess of $200. A Signature Guarantee is a guarantee you can obtain from a financial institution, such as your bank, that your signature is yours and that it is genuine. It is not the same as a notary, as a notary states that a document was signed in the presence of the Notary Public, it does not validate the signature itself. This Signature Guarantee should be placed next to your signature on the withdrawal letter.
Withdrawal letters should be sent to:
Upromise
ATTN: Customer Care
P.O. Box 55555Boston,
MA 02205-5555
Checks are sent once per calendar quarter, so you should typically receive your check within 12 weeks of your request being received.
I do this once a quarter and it works pretty well. When i joined UPromise origainlly, I opened a 529 through them. They have since halter their relationship with that 529, so the only way I can get new money into the account is to ask for a check and deposit it myself. It's a pain, but I'd prefer to do this versus signing up for one of the current plans they are partnering with.
Seems like they only process these requests once a quarter, so it's not an instant type of thing. You may be waiting 2 months or more for your check.
Seems like they only process these requests once a quarter, so it's not an instant type of thing. You may be waiting 2 months or more for your check.
Thanks for the great info!
I just signed up the baby (5) for the Florida Prepaid College Plan and want to apply the Upromise amount to the Florida account.
Sounds like a PITA!
I just signed up the baby (5) for the Florida Prepaid College Plan and want to apply the Upromise amount to the Florida account.
Sounds like a PITA!
Is the money you withdraw taxable?
QUOTE(Monga @ 3-21-05, 3:56pm)
Is the money you withdraw taxable?
I think it should be declared as income although it might qualify as rebate in which case it's tax-free. I seriously doubt anybody is declaring it though.
I "earn" the money via purchases at the grocery...something like ebates idea.
It should be tax free. I just want to transfer it to the Florida prepaid plan.
It's kind of like a savings plan. I do not think it is taxable. I have no idea.
Anyway, we are talking $500 and I want to put that towards the Florida plan.
It should be tax free. I just want to transfer it to the Florida prepaid plan.
It's kind of like a savings plan. I do not think it is taxable. I have no idea.
Anyway, we are talking $500 and I want to put that towards the Florida plan.
Here is the link to the info, it's in their FAQ:
http://www.upromise.com/content/faq/acctdetails_1.html
http://www.upromise.com/content/faq/acctdetails_1.html
QUOTE(dejavu @ 3-22-05, 10:27pm)
I "earn" the money via purchases at the grocery...something like ebates idea.
It should be tax free. I just want to transfer it to the Florida prepaid plan.
It's kind of like a savings plan. I do not think it is taxable. I have no idea.
Anyway, we are talking $500 and I want to put that towards the Florida plan.
It should be tax free. I just want to transfer it to the Florida prepaid plan.
It's kind of like a savings plan. I do not think it is taxable. I have no idea.
Anyway, we are talking $500 and I want to put that towards the Florida plan.
b/c it is for education if anything you should get a tax break. You do if you put it into traditional accounts
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