FAQs
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- ALR
- Benefits
- Contributions
- Eligibility
- Fees
- General
- Gifting
- How it Works
- Linking Bank Accounts
- Opening an Account
- Prepaid Card
- Qualified Expenses
- Successors and Estates
- Tax Info
- 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. Withdrawals from the Cash Option take 2-3 business days. It takes 5-7 business days to transfer funds between your ABLE account’s... Read more
- Does the Authorized Legal Representative (ALR) own the account with the beneficiary?
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Nope. No matter who opens the account, the eligible beneficiary owns all of the funds.
- What are the fees?
- There is an annual fee of $35 to keep the account up and running. There is also an annual administrative fee of 0.30% to 0.34% on the account’s balance and the investment option. Additional fees are added based on how you use the account: $10 per year for paper statements when you choose to opt... Read more
- What if I want to close my account?
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Simply give us a call and we’ll help you out. Reach us at 1-844-999-2253, 6am-5pm PT. We’ll be sad to see you go.
- Do I have to live in Oregon?
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Yes, you have to be an Oregon resident to open an Oregon ABLE Savings Plan account. If you aren’t an Oregon resident, you can open an ABLE for ALL Savings Plan, which has many of the same features.
- How do gifting limits work?
- Gift contributions count towards your standard contribution limit for the year. Friends and family will be prevented from making gift contributions that go beyond the gifting limit you set, but gift contributions could also be capped by contributions you make. For example, if your gifting limit is... Read more
- Where can I find my account number?
- You can find all the information about an ABLE account on the Overview page. The account number is at the top of that page. The rest of the information about the beneficiary’s account — including contact info, condition, customization, money allocation, and yearly goal — can be viewed and edited on... Read more
- How do I change my address?
- You can update either a beneficiary or an Authorized Legal Representative’s address through the online dashboard under account details. When you update an ABLE account’s address, there’s a 15-day hold for all check withdrawals requested with the Withdrawal Form or by calling customer service.... Read more
- Can I open and/or manage more than one ABLE account?
- A person with a disability can own only one ABLE account. You can serve as an Authorized Legal Representative and manage multiple ABLE accounts (for different beneficiaries) from the same account login. Each ABLE account can be connected to one or more bank accounts. Since we also manage the Oregon... Read more
- Can I connect more than one bank account to an ABLE account?
- Yes, you can connect more than one bank account as well as multiple types of bank accounts. Each account and type will need to be connected individually, but you can have both savings and checking accounts linked to your account at one time. The Account Owner/Custodian or Beneficiary must own the... Read more
