[b4freedom]

I just opened another online savings account, this one is with Metlife. I'll get 4.25% plus $50 bonus after funding the account for 90days with $5000. Over 90 days, that works out to be about 8.2% interest ($53.20 interest plus $50 bonus = $103.20 total). This $5000 is part of our emergency funds, so we don't want to tie it up in anything long term. After 91 days or so, I'll transfer all the money back and repeat with either another bank or under my wifes name. 8.2% isn't bad.


Do you do this as well?
Are there any problem with this?
Any suggestions?
Is there a name for this?
What do you do when you run out of banks?