To send funds from your Morgan Stanley 529 Plan account directly into your Backpack account, you'll need to add Backpack as a new bank account to your The Morgan Stanley 529 account. This is a one-time setup that will make future transfers quick and easy.
Do you use a Financial Advisor?
Financial Advisors are familiar with how to add a new bank account (like Backpack's) to investment accounts and will be able to assist with linking your 529 Plan to Backpack.
To help answer any questions your Financial Advisor might have, you can share this guide with them - What Financial Advisors need to know.
Adding Backpack as a Bank Account
Overview of steps:
Go to your Morgan Stanley 529 Plan Portal and log in with your credentials.
When prompted to Add Banking Details, Enter Your Backpack Account Details (found on your Backpack Dashboard):
Bank Account Owner: [Your Name]
Bank Account Type: Checking
Routing Number: [Your Backpack Routing Number]
Note: The bank may show as “Old Missouri Bank” — Backpack’s banking services are provided through Old Missouri Bank (OMB), a chartered bank who hold Backpack's accounts.Account Number: [Your Backpack Account Number]
Please note, if Morgan Stanley 529 Plan is prompting you to provide additional information you may need to submit a Change of Details Form. You'll then likely need to attach a bank letter. To download a bank letter with your account information:
Visit your Settings tab in your Backpack account
Click "Download Bank Letter"
Verifying Your Account with Plaid
Important: When using Plaid to verify, click "Continue as guest" instead of entering a mobile number. This avoids any issues with saved logins or email conflicts.
Once all information has been entered, click the "Verify" button on the bottom right of the form.
Morgan Stanley 529 uses Plaid to connect the account.
Note: Do NOT enter a phone number. Click "Continue as guest" instead.
Search "BACKPACK" in "Select your institution."
Note: DO NOT search or select OMB Bank or Old Missouri Bank. Plaid verification is done directly through Backpack.
Select "Backpack" as your institution.
Enter the email address associated with your Backpack account.
"Verify your identity" by inputting the verification code sent to the email on file.
Confirm your Backpack 529 account and click "Continue" to finish linking your Backpack account to Morgan Stanley 529.
Once you have successfully linked your account, you will be returned to the main page. Click SUBMIT to confirm adding your account.
Your Backpack bank information will appear on your Morgan Stanley 529 profile.
Congrats, you have successfully linked your account!
Why "Continue as Guest" matters
Choosing "Continue as guest" helps ensure a smooth connection, especially if your email is already tied to a different financial institution login. It avoids linking issues and prevents errors due to previously saved credentials.
Safari browser compatibility troubleshooting tips
If you're using Safari and the Plaid verification window isn't opening during the verification step, Safari may be blocking pop-ups or content windows. Here's how to adjust your settings so the window opens properly:
Steps to Allow Pop-Ups in Safari:
Log in to Morgan Stanley 529.
Open Safari Settings for This Website
At the top left of your screen, click on Safari in the menu bar.
Select Settings for this website... from the dropdown.
Disable Content Blockers
In the settings window that appears, uncheck the box labeled "Enable content blockers".
This allows Safari to open the pop-up window used for verifying your bank account.
Retry the Bank Verification
Go back to the Bank Information section in Morgan Stanley 529.
Relaunch the bank verification step and the Plaid window should now open correctly.