FAQs

Yes, simply fill out and submit this form.

There is no limit to the number of times you can load your card. However, withdrawals from a VT529 account to any True Link 529 Visa® Prepaid Card may not exceed $5,000 per day and $20,000 per month.

No. Once money is moved from your account onto your True Link 529 Visa® Prepaid Card, it cannot be moved back into your VT529 account.

You can use your True Link 529 Visa® Prepaid Card anywhere Visa is accepted, including online bill-pay. Your card can be used for anything; however, if you use the card to pay for something that is not a qualified expense, you’ll have to pay income tax on the earnings portion of the applicable amount withdrawn from your VT29 account, plus a 10% penalty on such earnings. 

The list of qualified expenses includes, but is not limited to:

• Tuition

• Housing costs

• Textbooks and supplies

• Computers and educational equipment

• Student loans

You can load as much or as little as you need up to $20,000. However, the maximum load limit per day is $5,000.

The True Link 529 Visa® Prepaid Card can be paused temporarily or closed at any time. Simply log in to your card administrator dashboard and click the “Account” tab. Then select the green “Temporarily disable” or “Permanently close card” button. Alternatively, you can contact True Link 529 Visa® Prepaid Card support at https://VT529.truelinkfinancial.com/contact.

There is no fee to open an account. However, you’ll need to make an initial deposit of at least $25 to get started and a $1 minimum for any contribution after that. Additionally, there are some minimal fees that apply to all accounts.

There is a low program management fee of 0.13% per year and low underlying investment fees between 0.00%-0.03% per year on the investments in your VT529 account.

Some fees are added based on how you use the account:

• $20 per year for paper statements when you choose to opt out of electronic statements

• $25 if a transfer fails or check bounces

The complete fee structure is found in the VT529 Plan Disclosure Booklet (PDF).

VT529 accounts have some similar features, but they are not checking or savings accounts. VT529 accounts are a special form of investment account. You will be saving or investing your money in different options provided. VT529 accounts also allow you to grow your money and to save long-term for education expenses.

You can find and edit all the information about a VT529 account on the settings page — including contact info, condition, customization, money allocation, and yearly goal.