<prompt> Human: Hi everyone,I had a few questions about opening an Ally Bank savings account. I am making a few thousand dollars over the summer with an internship. I use a regional bank that has atm locations at my college. However, looking at Ally, their APY at 1 seems like an insanely good deal compared to my bank where I earn almost nothing on the money I have saved. Are their any significant drawbacks? Does it fit the basic needs of a college student? Thanks for the help!EDIT: On their website it states: Six transactions limit per statement cycle. Not really sure what that means. I read it has to do with online and mobile money transfers. I use venmo a lot, do venmo transactions count towards the 6?  <response>: The 6 transaction limit is from Regulation D. All savings accounts will have it.Federal Regulation D states that you may make no more than six 6 automatic or preauthorized transfers from your share savings or money market account per calendar month or statement cycle. The monthly limit is based on when the transaction is processed, not when the check or item was written or authorized. If you make a combination of checksdrafts and automatic or preauthorized withdrawals, the total limit is still six. 