Bank sand is a sand and clay mix with a few clods. It's good for smoothing lawns since grass grows very well in this sand. It also is good as a leveling for concrete.

Mason sand is a fine aggregate for masonry mortar that is finer than torpedo sand.  It's used for mortar in laying bricks as in a patio or sidewalk and is excellent for a volleyball courts, golf courses, and kids' sand box.

Torpedo Sand is a course grain sand and small gravel mix with a particle size less than 3/8".  It's good for setting tile, pavers, and irrigation ditches and is used in concrete (not for morter), utility pipe bedding and/or backfill, beach sand, mound-type spetic systems, and livestock bedding.