Banks usually require you to keep the account open for 90 days after you open it, though some require 6 months or longer

The holding period — the minimum time you must keep an account open to keep a bonus — varies by bank and by offer. Most commonly it is 90 days from the day you open the account. Some banks set it at 60 days, others at 6 months or a full year. A few have no stated holding period at all, though they reserve the right to claw back the bonus if you close the account "too soon" without defining what that means.

The holding period is not the same as the important date to meet the bonus conditions. You might have 60 days to deposit $500 and set up direct deposit, but then have to keep the account open for another 90 days after that before the bonus posts. The bonus itself usually arrives 30 to 60 days after you have met all the conditions and the holding period has passed.

If you close the account before the holding period ends, the bank will not pay the bonus and may charge you an early closure fee on top of that. Some banks will claw back a bonus that has already posted if you close too soon. The only way to know the exact requirement for a specific offer is to read the terms document the bank provides when you sign up — not the marketing ad, but the full disclosure.

Key Takeaways

  • Most banks require you to keep a bonus checking account open for 90 days from the opening date, though some require 60 days or 6 months.
  • The holding period is separate from the important date to meet bonus conditions like direct deposit or minimum balance, and the bonus posts after both are complete.
  • Closing the account before the holding period ends will forfeit the bonus and may trigger an early closure fee.
  • The exact holding period is in the terms document provided at signup, not in the promotional ad.
  • Some banks claw back bonuses that have already posted if you close the account within a certain window after the bonus arrives.

Where the holding period is stated and what it actually says

When you open a checking account online or in a branch, the bank sends you a document called the account disclosure or terms and conditions. This is where the holding period appears — usually in a section labeled "Bonus Terms" or "Promotional Terms." The disclosure will say something like "You must maintain the account in good standing for 90 days from the account opening date to receive the bonus" or "The account must remain open for six months after the bonus posts."

Read this document before you open the account, not after. The promotional ad on the bank's website often omits the holding period or buries it in fine print. The official disclosure is the binding contract, and it is the only place where the exact requirement is may provide to be accurate.

If you cannot find the disclosure before opening, call the bank's customer service line and ask them to email or mail you the bonus terms. Do not rely on what a branch employee tells you verbally — branches often do not have access to the full promotional terms and may give you incomplete information.

What "maintaining the account in good standing" actually means

Most banks define "good standing" straightforward as keeping the account open and not overdrawing it repeatedly. You do not have to keep a minimum balance during the holding period, and you do not have to use the account for everyday spending. You can deposit the required amount, meet any direct deposit requirement, and then let the account sit untouched for the rest of the holding period.

The main thing that can disqualify you is a pattern of overdrafts or a negative balance that the bank has to cover. A single overdraft usually will not cost you the bonus, but multiple overdrafts or an account that stays negative for weeks might. Some banks also have rules against opening multiple accounts in a short window to collect multiple bonuses — if you open three checking accounts at the same bank within 30 days, the bank may deny bonuses on all of them or claw them back later.

If you are unsure whether something you did (a large withdrawal, a returned check, a dispute) will affect your bonus, contact the bank and ask directly. Document the response in writing, either by email or by taking a screenshot of the chat conversation.

When the bonus posts versus when you can safely close

The bonus does not post on day 91. It usually arrives 30 to 60 days after you have met all the conditions and the holding period has ended. If your holding period is 90 days and the bonus posts 45 days after that, you cannot safely close the account until day 135 at the earliest.

Some banks have a second holding period that starts when the bonus posts. For example: "The account must remain open for 90 days from opening, and then for an additional 30 days after the bonus is credited." In that case, you would need to keep the account open for 120 days total, plus however long it takes for the bonus to arrive after day 90.

The safest approach is to wait at least 30 days after you see the bonus in your account before closing. Banks occasionally reverse bonuses weeks or months later if they discover you did not meet a condition you thought you had met, or if they find evidence of fraud or account stacking. Keeping the account open for a month after the bonus arrives gives you time to notice if the bank reverses it and to contact them while the account is still active.

Early closure fees and what happens to your money

Many banks charge a fee if you close a checking account within a certain window — often 90 days to 6 months. This fee is separate from the bonus forfeiture. You could lose the bonus and pay a $25 to $50 early closure fee at the same time. A few banks waive the early closure fee if you close before the holding period ends, but most do not.

When you close the account, any money in it is yours to keep. The bank will not take it back. If the account has a negative balance (you owe the bank money), the bank will deduct that from your closing check or may send the balance to collections. If the account has a positive balance and you close it, the bank will send you a check or transfer the money to another account you specify.

Before you close, make sure the account balance is positive and that there are no pending transactions that might overdraw it. Some banks take several days to process a closure, and if a check or automatic payment clears during that time, it could trigger an overdraft fee.

Banks that claw back bonuses after they post

Most banks will not take back a bonus once it has posted to your account, but some do. Chase, for example, has a history of clawing back bonuses if you close the account within 6 months of opening, even if the bonus posted weeks earlier. Bank of America and Wells Fargo have similar policies on some of their accounts.

The clawback usually happens automatically when you close the account. You will see the bonus amount deducted from your closing balance. If the clawback happens after you have already closed the account and received your closing check, the bank may send you a bill or attempt to collect the amount from you later.

The only way to know if a specific bank claws back bonuses is to read the terms or call and ask directly. If a bank does have a clawback policy, it will be stated in the bonus terms, though sometimes in language that is straightforward to miss. Look for phrases like "must maintain the account for X days after the bonus posts" or "bonus subject to reversal if account is closed within X days of opening."

What to do if you need to close the account early

If an emergency forces you to close the account before the holding period ends, contact the bank and explain the situation. Some banks will waive the holding period requirement or the early closure fee if you have a legitimate reason — a move to another state, a job change, a death in the family. The bank is not required to waive it, but it costs nothing to ask.

If the bank will not waive the requirement, you will lose the bonus. In that case, weigh whether it is worth keeping the account open a few more weeks to collect it. If you are being charged a monthly fee or if the account has features you do not want, closing early and forfeiting the bonus may be the better choice than paying fees for months.

If you have already closed the account and the bank clawed back a bonus you thought was yours, contact customer service and ask them to explain the clawback in writing. If the bank made an error or if the terms were unclear, they may reverse it. If the clawback was correct according to the terms, you have limited recourse, but it is still worth asking.

Frequently Asked Questions

Can I transfer the bonus money to another account right after it posts?

Yes. Once the bonus has posted to your account, it is your money and you can move it anywhere. The restriction is on closing the account, not on moving the money. You can transfer the bonus to a savings account or another bank the same day it arrives, as long as you keep the checking account itself open for the required holding period.

What if I meet the bonus conditions early — can I close the account before 90 days?

No. The holding period is measured from the account opening date, not from when you meet the conditions. If you open the account and when ready deposit $500 and set up direct deposit, you still have to wait 90 days (or whatever the holding period is) before you can close without forfeiting the bonus.

Do I have to use the account for everyday spending to keep the bonus?

No. You only have to keep the account open and avoid repeated overdrafts. You can deposit the required amount, set up direct deposit if that is a condition, and then never use the account again until the holding period ends. The bank does not care how much you spend or whether you use the debit card.

If I open two accounts at the same bank, do I have to keep both open for 90 days?

Yes, if you want to keep both bonuses. Banks have rules against account stacking — opening multiple accounts in a short window to collect multiple bonuses. If you open two accounts within 30 days, the bank may deny bonuses on both or claw them back later. If you do open two accounts, keep both open for the full holding period and meet all conditions on each one separately.

What happens if the bank goes out of business while I have the account open?

Your money is protected by the FDIC up to $250,000 per account type per bank. The bonus is considered part of your account balance and is covered by the same protection. If the bank fails, the FDIC will transfer your account to another bank or send you a check for the full balance, including the bonus.