Early Termination Fees & Holding Periods

Before closing a bank account after earning a bonus, check the early termination fee and required holding period. Closing too early can cost you the bonus or trigger additional fees. We track these details for every offer so you know exactly when it is safe to close.

Known ETFs

Average ETF

6 mo

Avg Hold Period

No ETF Data

Early Termination Fees & Holding Periods

Bank	Account	Bonus	Hold Period	ETF
U.S. Bank	U.S. Bank Smartly Checking	$400	5 months	Unknown
Citibank	Citi checking	$2,000	6 months	Unknown
Citibank	Citi savings	$2,000	6 months	Unknown
Capital One	Capital One checking	$1,500	6 months	Unknown
HSBC	HSBC checking	$1,500	6 months	Unknown
Marcus by Goldman Sachs	Marcus checking	$1,500	6 months	Unknown
Chase	Chase checking	$1,500	6 months	Unknown
Citibank	Citi savings	$1,000	6 months	Unknown
SoFi	SoFi savings	$675	6 months	Unknown
HSBC	HSBC Premier Checking	$600	6 months	Unknown
Ally Bank	Ally checking	$525	6 months	Unknown
Chase	Chase checking	$500	6 months	Unknown
KeyBank	KeyBank checking	$500	6 months	Unknown
TD Bank	TD Bank checking	$500	6 months	Unknown
Axos Bank	Axos Rewards Checking	$500	6 months	Unknown
BMO	BMO Smart Advantage Checking	$500	6 months	Unknown
U.S. Bank	US Bank checking	$450	6 months	Unknown
Wells Fargo	Wells Fargo checking	$425	6 months	Unknown
BMO	BMO checking	$400	6 months	Unknown
Bank of America	BofA checking	$400	6 months	Unknown
Wells Fargo	Wells Fargo checking	$400	6 months	Unknown
Truist	Truist One Checking	$400	6 months	Unknown
Regions Bank	Regions LifeGreen Checking	$400	6 months	Unknown
Citibank	Citi Priority Account	$400	6 months	Unknown
Huntington Bank	Huntington checking	$400	6 months	Unknown
Ally Bank	Ally checking	$400	6 months	Unknown
Fifth Third Bank	Fifth Third checking	$400	6 months	Unknown
PNC Bank	PNC Virtual Wallet	$400	6 months	Unknown
Citibank	Citi checking	$325	6 months	Unknown
Wells Fargo	Wells Fargo Everyday Checking	$325	6 months	Unknown
Chase	Chase savings	$300	6 months	Unknown
Capital One	Capital One checking	$300	6 months	Unknown
Citibank	Citi savings	$300	6 months	Unknown
Fifth Third Bank	Fifth Third Momentum Checking	$300	6 months	Unknown
TD Bank	TD Beyond Checking	$300	6 months	Unknown
KeyBank	KeyBank Key Smart Checking	$300	6 months	Unknown
Ally Bank	Ally checking	$300	6 months	Unknown
Regions Bank	Regions checking	$300	6 months	Unknown
Chase	Chase Total Checking	$300	6 months	Unknown
Citizens Bank	Citizens One Deposit	$300	6 months	Unknown
Huntington Bank	Huntington Unlimited Plus Business	$300	6 months	Unknown
American Express	Amex checking	$250	6 months	Unknown
U.S. Bank	U.S. Bank Elite Money Market	$250	6 months	Unknown
PNC Bank	PNC checking	$200	6 months	Unknown
TD Bank	TD Bank savings	$200	6 months	Unknown
Huntington Bank	Huntington checking	$200	6 months	Unknown
Ally Bank	Ally checking	$200	6 months	Unknown
Bank of America	Bank of America Advantage Plus	$200	6 months	Unknown
Regions Bank	Regions checking	$200	6 months	Unknown
Chase	Chase Savings	$200	6 months	Unknown
Citibank	Citi Accelerate Savings	$200	6 months	Unknown
TD Bank	TD Convenience Checking	$150	6 months	Unknown
Bank of America	BofA checking	$100	6 months	Unknown
Citibank	Citi savings	$100	6 months	Unknown
Axos Bank	Axos checking	$100	6 months	Unknown

Understanding Early Termination Fees

An early termination fee (ETF) is a penalty banks charge when you close an account before a specified minimum holding period. These fees exist because banks incur costs to set up new accounts and want to discourage people from opening accounts solely to collect the bonus and immediately leave.

ETFs typically range from $25 to $50, though some banks charge more. The fee is usually deducted from your remaining account balance when you request closure. If your balance is insufficient, some banks may send the remaining amount to collections.

It is important to understand the difference between an early termination fee and a bonus clawback. An ETF is a flat penalty for closing the account early. A bonus clawback means the bank reverses the entire bonus amount. Some banks impose both penalties, so you could lose the bonus and pay an additional fee on top of that. Always read the terms carefully before opening an account.

How Long to Keep Accounts Open

The safest approach is to keep every bonus account open for at least 12 months from the date you opened it. While many banks only require 6 months, a full year eliminates virtually all risk of fees or clawbacks.

6 months minimum: Most banks require at least 180 days. This is the most common holding period across all offers.
12 months to be safe: If you are unsure about the terms or cannot find the specific holding period, keeping the account open for a full year is the safest bet.
Check specific terms: Each offer has different requirements. Use the table above to find the exact holding period for your account.
Set calendar reminders: When you open a bonus account, immediately set a reminder for the earliest safe closure date. This prevents you from forgetting and accidentally keeping the account open longer than needed, paying unnecessary monthly fees.

Tips to Avoid Fees

✓Read the fine print before opening: Check the account terms for early termination fees, holding periods, and bonus clawback provisions before you apply.
✓Track your open date: Note the exact date you opened each account. The holding period starts from the account opening date, not from when you received the bonus.
✓Waive monthly fees while holding: Many accounts charge monthly fees that can be waived with direct deposit or a minimum balance. Set up a small recurring direct deposit to avoid paying fees during the holding period.
✓Downgrade instead of closing: Some banks allow you to downgrade to a no-fee account type instead of closing. This avoids the ETF entirely while keeping the relationship open.
✓Close in-branch when possible: Closing in person lets you confirm the account is fully closed and get written confirmation. Phone closures sometimes leave accounts in a dormant state that can still accrue fees.
✓Zero out the balance first: Before closing, transfer all funds out and wait for any pending transactions to clear. This prevents overdraft fees during the closure process.

Frequently Asked Questions

How long should I keep a bank account open after a bonus?

Most banks require you to keep the account open for at least 6 months after opening. Some require 12 months. Closing earlier may trigger an early termination fee or bonus clawback. Always check the specific terms for your bonus offer before closing.

What is an early termination fee?

An early termination fee (ETF) is a charge banks apply when you close an account before a required holding period. These fees typically range from $25 to $50 and are separate from bonus clawback provisions. The fee is deducted from your remaining balance at account closure.

Can banks take back my bonus if I close early?

Yes. Many banks reserve the right to claw back (reverse) the bonus if you close your account within the holding period, even if you already received the bonus. Some banks charge an early termination fee on top of the clawback. Check your account terms carefully.

What is the difference between an early termination fee and a bonus clawback?

An early termination fee is a flat charge (usually $25-$50) for closing the account early. A bonus clawback means the bank reverses the entire bonus amount from your account. Some banks impose both penalties, so closing early could cost you the bonus plus an additional fee.

Browse All Bank Bonuses

Now that you know how to avoid early termination fees, find the best bank bonus offers available right now.

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