Leave Open Or Close Accounts After Bonuses

mountainman | May 21, 2019 | 7 posts since 2019

After receiving bonuses for opening accounts do you leave them open, withdraw all funds to cause closure or call in to cancel accounts? (Some banks offer bonuses to existing customers so I will leave these open.)

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Answers

AnnO | May 24, 2019 | 129 posts since 2018

Some banks have fees if you close the account too quickly. Research each bank's policies to decide how to handle it. Do not assume that "withdrawing all funds" will "cause closure", verify with that bank if it will automatically close after x amount of time at $0, and that you won't be hit with any fees by doing it that way.

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