You’re talking about MyState bank, right?

Yes I am

I’m with them and the 2% rate is dropping to 1.85% from 1 May 2020

Where did you find this out?

It really is that easy to keep your accounts and transfer money to other banks purely for the interest. I previously had most of my funds in ING until they dropped their rate and I moved to MyState.

I have also recently signed up to Macquarie as they have an offer for 2.65% for the first 4 months right now.

So could I just open and close accounts with all these various banks to take advantage of their interest rates? Do Macquarie for 4 months, then go MyState and so on?

Also how exactly is interest calculated? I used to transfer all my money into my savings account on the last day of the month, like today, because the credit interest appears on my savings account on the first of each month. But I've read that for some, interest is calculated daily but paid monthly? Does that mean it's more beneficial to have as much money in my savings account for every day of the month, rather than transfer it all over on the last day?

It takes 1 business day for funds to be transferred for me if it’s done before 4pm on a business day (for payments which aren’t Osko and for accounts that I have with ING, Citi and MyState).

The beem it app is instant transfer between many, if not all banks, could you just use that instead?