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1.
1) A facility that collects sperm from donors, usually for the purpose of artificial insemination.

2) A loose, promiscuous woman that collects sperm from "donors", usually for the purpose of oral or vaginal consumption. often in large quantities.
That tramp Beth applied for a job at the sperm bank the other day. They turned her down. They said they were afraid she would "gobble up all the profits".
by Ill Bill B Illin' August 31, 2007
 
2.
A fun place to go to when you're broke and/or need to get off. They let you borrow their free porn so that you can rub one out into a cup, AND you get paid! Make sure you don't get a magazine that has "water damage"
You get $50 per visit, but the thing is you have to go at least once a week and go through a pretty thorough screening process. And after 20 or so successful ejaculates, you get $60 per visit.

Getting paid to jerk off. What a deal! Sign me up.
by masterbaiter December 13, 2004
 
3.
A woman of loose morals, who engages in promiscuous sexual activity.
Oh man...Lucy is your sister-in-law? That chick is a walking sperm bank!
by antraeindubh March 31, 2004
 
4.
a females vagina
i made a deposit in her sperm bank.
by sweather catcher August 11, 2010
 
5.
Noun: 1. A facility where men can donate their ejaculate. The ejaculate is then used for artificial insemination by women whose husbands are sterile.

2. A very promiscuous girl.
1. "I love spermbanks! They actually pay you to jerk off! And you might get a kid out of it!"

2. "Dude, make sure you wear a rubber with that chick - she's a total spermbank. I hear she's in the triple digits."
by drotic October 06, 2009
 
6.
The legal way to buy and sell children. Sperm are living things too, you know.
The only thing worth going to a sperm bank is that they pay you once you released your load.