The bonus posted, the money is in the account, and the obvious next move is to close it and go again. Do that too early and the bank takes the bonus back.
The clawback clause
Almost every bank bonus carries a term allowing the bank to reclaim the payment if the account is closed within a set period of opening — commonly 90 to 180 days. Some banks debit the account before closing it; where the balance is already gone, they can bill you or report the amount as a negative balance.
Read the specific number. It varies more than people expect, and it is measured from account opening, not from the date the bonus was paid. Because bonuses often post 60 to 90 days after the conditions are met, the gap between “bonus received” and “safe to close” can be much shorter than it looks — or much longer.
Early closure fees are a separate charge
Distinct from the clawback, many banks levy an early account closure fee if an account is closed within a few months of opening. That fee applies whether or not a bonus was involved, and it applies even if you never triggered the bonus at all.
So an account can cost you twice: the reclaimed bonus and the closure fee.
What resets the clock
Nothing, usually. Reopening the same account type later does not restore eligibility, and most offers exclude anyone who has held that account within the past 12 to 24 months. Closing early therefore does not just cost the bonus — it can also lock you out of the same offer for a year or two.
The safer sequence
- Note the account opening date, not the application date.
- Find the clawback window and the early closure fee window in the terms. They are often different lengths.
- Diarise the later of the two, plus a few days.
- Before closing, move the balance out but leave enough to cover any pending fee.
- Close in writing or in branch and keep the confirmation.
Leaving it open is often cheaper than closing it
If the account has no monthly maintenance fee, or the fee is waived by a condition you already meet, the cost of simply leaving it open is zero. That avoids the clawback question entirely and keeps the relationship on file, which can matter for future offers at the same bank.
Where the account does carry a fee, work out the annual cost against the hassle. A small monthly fee for two more months is frequently less than the closure fee.
Dormancy is not a free option
An account left with a zero balance and no activity can be closed by the bank as dormant, and in some states unclaimed balances are eventually escheated. If you intend to keep an account open, keep a small balance and let one transaction run through it occasionally.
The churning guide covers cooling-off periods in more detail, and the current roundup lists each offer’s terms.