The minimum hold period depends on the bank's terms, not on you
Most banks require you to keep the account open for 30 to 90 days after the bonus posts to your account. Some require the account to stay open for 6 months or longer. The exact number is written in the bank's bonus offer terms — the document you see before you open the account or in the email confirmation after you do. If you close the account before that period ends, the bank will claw back the bonus, meaning they take it back and you lose it.
The hold period is not about how long you have to wait for the bonus to arrive. It is about how long you must keep the account active after it does. A bonus that posts on day 15 might require the account to stay open until day 45 or day 115, depending on the bank. Close it early and you forfeit the money.
Key Takeaways
- The hold period is stated in the bank's bonus terms before you open the account, and it ranges from 30 days to 6 months or more.
- If you close the account before the hold period ends, the bank will reverse the bonus and you will not receive it.
- The hold period starts when the bonus posts to your account, not when you open the account or meet the deposit requirement.
- Some banks waive the hold period if you set up direct deposit or maintain a minimum balance, so check the fine print for exceptions.
- You can use the account normally during the hold period — the restriction is only on closing it, not on spending or transferring money.
Where to find the exact hold period for your bank
The bonus terms appear in three places: the bank's website promotion page, the email confirmation you receive after opening the account, and sometimes in the account agreement itself. Search the promotion page for words like "bonus terms," "offer details," or "conditions." The hold period is usually listed as "account must remain open for X days" or "bonus will be forfeited if account is closed within X days of posting."
If you cannot find it online, call the bank's customer service number and ask directly: "How long do I need to keep this account open to keep the bonus?" Write down the answer and the date you received it. This protects you if there is a dispute later.
What happens if you close the account too early
When you close the account before the hold period ends, the bank reverses the bonus automatically. You do not get a choice or a warning — the money simply disappears from your account. If you have already spent the bonus or transferred it elsewhere, you may end up with a negative balance. The bank will then send you a bill for the amount owed, and the account will go to collections if you do not pay.
This reversal can happen days or weeks after you close the account. You might not notice until you check your balance or receive a statement. Some banks notify you by email or letter; others do not. The safest approach is to mark the end date of the hold period on your calendar and wait until that date has passed before closing the account.
Exceptions and ways to shorten the hold period
A few banks offer ways to reduce or eliminate the hold period. Some waive it if you set up direct deposit — having your paycheck or other regular income deposited directly into the account. Others waive it if you maintain a minimum balance, usually $500 to $2,500, for the entire hold period. A small number of banks have no hold period at all, though these are rare.
Read the bonus terms carefully for language like "waived if," "reduced to," or "no hold period required if." If you see an exception that applies to you, follow the instructions exactly. If you set up direct deposit, do it before the hold period starts so the bank can verify it. If you need to maintain a balance, keep a record of your balance on the day the hold period ends to prove you met the requirement.
How to track the hold period without losing track
Write down three dates: the day you opened the account, the day the bonus posted, and the day the hold period ends. The hold period ends on the day the bonus posted plus the number of days stated in the terms. If the bonus posted on January 15 and the hold period is 60 days, the account must stay open until March 16.
Set a phone reminder for one day before the hold period ends. This gives you time to confirm the account is still active and the bonus is still there before you close it. Some people keep the account open an extra week or two just to be safe, since banks sometimes process closures slowly and a reversal can happen if the system still shows the account as open on the hold period end date.
What you can do with the account during the hold period
You can use the account normally during the hold period. Deposit money, withdraw money, transfer funds, pay bills, set up automatic payments — none of this affects the bonus or the hold period. The only restriction is that you cannot close the account. Some banks also require you to make at least one deposit or transaction during the hold period to keep the account "active," so check the terms for this requirement too.
If the account has a monthly fee, you will pay it during the hold period just like any other month. Some banks waive the fee for new accounts for the first few months, but this is separate from the bonus hold period. Read the account agreement to see when fees start and whether they apply during the hold period.
Frequently Asked Questions
Can I transfer the bonus money to another account right after it posts?
Yes. Transferring the bonus to another bank account does not affect the hold period. The restriction is only on closing the account itself, not on moving money out of it. However, keep enough money in the account to cover any monthly fees so the account does not go negative.
What if the bank changes the hold period after I open the account?
Banks cannot change the hold period retroactively for a bonus you have already earned. The terms that applied when you opened the account are the ones that apply to your bonus. If you see different terms later, they apply only to new accounts opened after the change.
Do I have to use the account after the hold period ends, or can I just leave it open?
You can leave it open and unused. However, some banks charge monthly fees on inactive accounts or close accounts that have no activity for 12 months or longer. Check the account agreement to see if there are fees or inactivity policies, and decide whether to keep it open or close it after the hold period ends.
If I close the account and the bonus gets reversed, can I reopen it and get the bonus again?
No. Once a bonus is reversed, you have forfeited it. Most banks also have policies that prevent you from receiving the same bonus twice within a certain period — often 12 months or longer. Reopening the account will not restore the bonus.
What if I did not receive the bonus at all?
Contact the bank's customer service and ask them to check whether the bonus posted. Bonuses sometimes take 30 to 60 days to appear after you meet the requirements. If the bonus has not posted and the deadline has passed, ask the bank to manually credit it. Bring proof that you met the requirements — deposit confirmations, transaction history, or the promotion terms you saw when you opened the account.