Banks!!

Who likes to use the Torn bank, and who like to use the island bank? What are the perks and flaws of each?

Torn Bank for investment, PI vault, and Faction bank. f**k Caymans.

unless you have the merits torn bank is practically useless

The Torn City Investment Bank allows you to put in up to 2b for a maximum of 3 months, and when the timer is up you'll get some interest on the money you stored. Quite a nice chunk of interest if you have enough merits. However once the money is in, it's locked in. You can't take the money out until the investment period is complete.

The Cayman Island bank works as a way to store an unlimited amount of money. The interest on this is tiny, so it worst best as a way to store money temporarily than to gain interest over time. You'll need to fly to Cayman Islands every time you want to withdraw or deposit, and this carries a risk of being mugged. 

also interest is paid out on the lowest balance of the entire month up to the date. so if you take cash out of cayman even more a moment say bye to that months interest

with full merits in banking interest you make about 25mil off 1 billion every two weeks. If you can afford to fill your bank and not have cash for a while the max you can earn is 240million with 2 billion on the longest investment. Which i think is 3 months

Your can take money out of Bank early, you just don't earn any interest and must take the full amount out all at once. So, even if 2bil was in there for 2 months and 29 days, if you withdraw then you'll receive no interest for any of that time period.  But it's useful if someone had an emergency (like gambling addiction).

Really? I had no idea -- how do you withdraw money early?

Only in caymans, you cant.
But in torn, use gift card to lower the time.

Beautifuli written kayla

2 month period is most profit.

How can something be practically useless?... Enlighten me please.

While the facts stated here are correct, I disagree with the esteemed Staff member on the interpretation. First, I think the TC Bank is the savest way to start making your fortune, even if you do not have merits, and even with the ridiculous low interest rate we have now.

Also, I disagree with the statement that the Caymans is only good for temporary storage. For a new player I would indeed not recommend using the Caymans as the main investment tool, as the TC bank pays better (go for short times in the beginning, as you can keep depositing more money, run the numbers in Excel). But the Caymans does have benefits for older players.

Of course, mine is also just an interpretation. So my main advice to threadstarter: get the figures together and decide for yourself (not just in this case...always, ALWAYS, think for yourself :D )

TC Bank: https://www.torn.com/wiki/Bank
Caymans: https://www.torn.com/wiki/Cayman_Islands

Essentially, the money you make from investing in the Torn bank is incredibly small with no merits and it's even worse with only a few thousand. When I was younger and getting mugged by another guy with better stats than me near constantly for some reason (I mean, I was new so I didn't honestly have all that much), I stupidly put the last of my money in there and accidentally clicked 3 months rather than 2 weeks to keep it safe. I put in about 7k and once my last few weeks end I'll only be getting 67 dollars on top of that for sitting in the bank for 3 months. At least it wasn't several million... -_-'

But anyways, that kind of return over 3 months, even with so little money, sucks. If I had a maxed out bank merit bar, I'd be getting a lot more for that about 7k than 67 measly bucks. If I had a maxed out bank merit bar and a couple million or ten million, I'd be rolling investing my way into a PI easy. So while one can't say that it's utterly useless even at the lower levels as it's a nice way to keep your money safe (Just only do it for a week or two, not for 3 months on accident like I did!), it's really shitty in terms of returns to the point that one should avoid it until you have a maxed out bank merit bar and a steady stable flow of income in the millions, if not billions. In other words, it's not something that's useful at the lower levels and is something to come back to in the long run. And even then, most people only go back to it for that merit to have 1 bil in the bank.

It's far easier to save your money in points (even with the decline in prices as that market still has not stabilized), in easily re-sellable items, or ghost trades rather than in the Torn or Cayman Banks tbh.

I use the Torn Bank 2 weekly for the biggest part of my money (since I don't have a vault yet).
Another part of my money is in the bookies. Nicely spread over bets I'm confident about, the wins cover up the losses and my money is safely stored.
The rest of my money is in items which I can sell at any moment.

Perks to storing money in vault, company or faction is instant access. (If you own said company, faction or vault, otherwise you may be just giving your cash away) Flaws is no interest in any of those monies.  

And of course opposite is true with either bank.  

When my bank investment ends I’ll be getting 383 mill there is also the stock benifit that increases bank interest I keep 2b in there that’s my saving money and it goes into the cayman island bank until I’ve saved up enough for what I want my job items selling bazar every other money making scheme I use on drugs fhc meds all the good stuff. my point is though both banks are very useful to me because Pi vault caps at 1b and most everything I want to buy costs more than that so for the people who can’t trust a company bank or faction bank there’s the Caymans

When my bank investment ends I’ll be getting 383 mill there is also the stock benifit that increases bank interest I keep 2b in there that’s my saving money and it goes into the cayman island bank until I’ve saved up enough for what I want my job items selling bazar every other money making scheme I use on drugs fhc meds all the good stuff. my point is though both banks are very useful to me because Pi vault caps at 1b and most everything I want to buy costs more than that so for the people who can’t trust a company bank or faction bank there’s the Caymans

Thanks everyone for their input