Besides the funding you also have to have the time and the head to keep track of all the accounts.
How's this different than the credit card game?
1) a credit card bonus should be worth at least $500 apiece unlike bank bonuses
2) you don't have to keep money in a credit card so unless there is an annual fee no loss if you lose track. If it has an annual fee you will get a bill to remind you
3) most people are actually spending money on a credit card anyways so you are signing up for a product you will use
Been thinking about this; I think it's the same and it's different than credit cards. The motivation is different, but the tracking methodology is very similar.
I have liquid cash sitting around doing nothing, other than earning extremely little in "high" yield savings account; I need the cash to be relatively liquid because it's emergency fund money. So the motivation is to have that money earn more than 0.5%-1%, while still remaining liquid. This is where bank account bonuses come into play; granted that they're not as lucrative as credit card SUB, but that's not the motivation here. I don't need them to earn like a credit card, rather all I need is for the money to earn more than the minimal percentage of interest that it would be making otherwise.
As for tracking, most people in the credit card game have multiple accounts that they're juggling at a single time, and possibly also multiple spending thresholds to hit. Additionally, there are AF to keep track of, and when's the optimal time to cancel/downgrade/PC a card. All this tracking overhead is similar to bank accounts.
I can definitely understand why someone would feel that it's not worth the headache; but to me I feel it's a waste to have my money losing value to inflation and this is a safe, relatively easy way to accomplish that.
