FAQs
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- Benefits
- Contributions
- Eligibility
- General
- Gifting
- How it Works
- Linking Bank Accounts
- Opening an Account
- Prepaid Card
- Qualified Expenses
- Successors and Estates
- Tax Benefits
- How do I withdraw money?
- You can make withdrawals of at least $10 at any time online. A transfer can take between 2-7 business days to complete, depending on how the money is allocated. If you request a check, a $2.50 fee will be deducted from the check amount. You'll get the payment in 5-7 business days. If you request a... Read more
- How do I add money?
- Once your bank is connected, you can make a contribution of at least $10 directly into your ABLE account at any time online. It's easy and secure. You can also set up monthly transfers of at least $10 to add funds automatically each month. You can also make a contribution by check. Make your check... Read more
- Can I change how my money is allocated?
- You can change the allocation of future contributions up to twice per year. Since you can only make investment changes on your account twice a calendar year, including allocation changes and investment option changes, if you change your allocation of future contributions, that counts towards your... Read more
- What's the difference between an investment and a cash option?
- Money saved in a cash option could earn minimal interest. The numbers will fluctuate slightly based on the interest rate of the US capital markets. With an investment, you can choose which portfolio to invest in based on your needs, and there's a change of your money growing over time. Withdrawals... Read more
- What is a cash option?
- A cash option is a conservative alternative to investing. If you plan on spending money from the account in the near future, this option is faster to withdraw. Your assets are protected in an FDIC-insured account. Keep in mind that with a low level of risk there's also a lower level of returns. See... Read more
- Can I change my investment option?
- Yes, you can change your investment option up to twice per year. Since you can only make investment changes on your account twice a calendar year, including allocation changes and investment option changes, if you change your investment option, that counts towards your twice a year limit. If you do... Read more
- How do I choose an investment option?
- If you decide to invest all or some of the money, there are three investment options to pick from: ABLE Conservative, ABLE Moderate and ABLE Aggressive. Each one has its benefits and limitations. We can help educate you on the differences between the three, but we can't tell you which one to pick.... Read more
- Who can contribute to my account?
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Friends, family, and employers can make contributions to your account to help you reach your goals for the account. Learn more about how to make a gift contribution or simply use the Gift Form to get started.
- Are there any limits to how much I can contribute?
- Standard Contribution Limit There's an $18,000 yearly limit for standard contributions, this includes any gift contributions made to your account. Remember, there is a $10 contribution minimum. ABLE to Work Contribution Limit With ABLE to Work, if a beneficiary is earning wages from employment,... Read more
- How does the account work?
- Everything can be managed online. The money can be saved in a cash option and/or invested in one of the three investment options offered: ABLE Conservative, ABLE Moderate and ABLE Aggressive. These choices are made during the account setup. By law, you can only make investment changes on your... Read more
