You will typically only see the status of a transfer in your Upromise account move to “Redeemed” after the transferred funds have been accepted by your financial institution and reflected in your 529 College Savings Plan or checking/savings account.
If you are transferring rewards to a checking or savings account, the status of the transfer may move from a Redeemed status to a Failed status in your Upromise account if there is a delay in reporting a transaction failure by your financial institution. If your transfer to a checking or savings account is in a Redeemed status but the funds are still not reflected in your bank account, please wait 7 business days for the status to be updated in your Upromise account. If you do not see the status move to Failed and the funds returned to your Upromise account within that time frame, please contact our Support team so that they can further research the status of the transaction.
If you are transferring rewards to a 529 College Savings Plan account and the transfer status is Redeemed but the funds are not reflected in your 529 Plan account, please contact our Support team so that they can research the status of the transaction. The Support team may ask you for additional information or documentation to help identify any potential issue transferring rewards to your linked account.