How do I make withdrawals from my account?

It’s easy to make withdrawals from your Embark account online. You can withdraw as little as $5 each time and transfer that money into any bank account linked to your Embark account. If you have more than one investment, you can also decide which investment you’d like to pull money from.

If you want to make a payment to an eligible education institution, you can request checks directly made out to the institution online or by using our Withdrawal Form (PDF). You can also send a direct electronic payment online.

Any money withdrawn from your account should be used for qualified expenses. Earnings on non-qualified withdrawals are subject to federal income tax and may be subject to a 10% federal penalty tax, as well as any applicable state and local income taxes. And note, if you’re using your account funds to pay for K-12 education, there are Oregon state tax implications.