Rate chasers move money from bank to bank earning the best rates available.

Rate chasers are fanatical about how much they earn and they switch frequently. They know which bank pays the most, and they'll move for a quarter percent APY.

Is it really profitable to work that hard? It is relative, depending on how much you have and what your time is worth. Large balances make the attempt more attractive. However, there are pitfalls. For example, moving your money from bank to bank in few days it might not earn anything remaining in each bank for so short periods of time.

Most people don’t transfer enough cash from bank to bank to make the endeavor worthwhile. If you move $4,000 from one bank to another to earn 0.5 percent, you will earn at most $20. This amount may seem like a good deal for thirty minutes of work, but that’s not an income source that is repeatable.