Can someone explain the offshore bank account on the Cayman Islands for me? I know I can safly put miney in there, but I don't know what other things it can do, since the descriptions and explanations on it was confusing to me
Offshore bank help!
Started by SpellBoundG [3337648] on in Questions & Answers.
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That's pretty much it, put money in there. Interest rate in there is awful, so unless you've got nowhere else to put money, I wouldn't bother. Put money in your bank for investment. Most people advise to get the stock ticker from the points store, as you can store your money in stocks and withdraw it when you need it for a very small fee.
It's only used if you're going inactive for months because you get the interest automatically without having to log in.
At the end of each month, you will gain 0.5% interest (rounded half up) on the invested amount based on the lowest amount of cash stored during the month. Any money you wish to gain interest from must remain there the entire month undisturbed.
At your networth, the Cayman's bank is worthless. Unless you're going inactive for military or a new job where you have to relocate, or you just plan on quitting and don't know if you'll be coming back to Torn... There are far better options for places to store your money. Look into getting a stock ticker and get a benefit block of SYM, then start working on your bank and getting more stocks, ect...
You should have like 10-15bil invested between the in Torn bank and stocks before you even consider using the Caymans for spare cash.
All that said, just look at the numbers... It spits out pennies in interest. If you look at your entire networth which is currently $144,000,000 after 30 days invested that would net you $720,000 in interest. 30 days for 720k... Literal pennies. Use that money to make more money and you can make 720 each and every day with no effort.
Ideally you should never use the Caymans, but if you're too lazy to actually play the game in other areas, go for it. It works, has unlimited storage capacity and is always net positive on the money you place there.
The ATM comment isn't helpful here, as people will think the stock ticker will give them ability to withdraw their money from Cayman or Bank while in Torn.
Acknowledged, edited my post for clarity.
How much can u store there ?
The amount you can have stored there is not capped