Picking up Nickels

Wednesday, January 10, 2007

Requesting a check from Upromise

Do you have cash languishing in your Upromise account because you don't have a linked 529 college savings account? Did you know that you can withdraw your entire balance at Upromise by writing them a letter requesting a withdrawal from your account?

From the Upromise Account FAQ:

You can withdraw your Upromise contributions at any time during your membership. 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 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 that your letter either be notarized or contain a Signature Guarantee if the withdrawal request is 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.

Withdrawal letters should be sent to:

Upromise
ATTN: Customer Care
P.O. Box 55555
Boston, 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 make my Upromise withdrawal requests with a letter similar to the one below:

Upromise Customer Care
Boston, MA 02205-5555

RE: WITHDRAWAL FROM UPROMISE ACCOUNT#: 999-999-9999

Dear Upromise:


I am writing this letter to request a withdrawal from my Upromise account.

Full Name: Frugal F. Frugalson
Account Number: 999-999-9999
Withdrawal Amount: $33.33


Regards,



Frugal F. Frugalson

1 Comments:

  • FYI--I just did this yesterday.
    You can write your own letter, OR download a form at www.upromise.com\withdrawalform.
    You still have to mail it though.
    Questions can go to 617-454-6400 or 888-434-9111.
    Hope this helps!

    By Anonymous M. Beuerlein, at 1/11/09, 11:39 AM  

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