You and your party are trying to figure out the keywords for Kaneshiro's Palace and when given the choice to respond, choose "A bank." You also learn that the location of his Palace is all of Shibuya. The party heads to the Metaverse, where you see some walking ATMs. When you regain control, head north, where you'll get stopped by a broken down ATM on the left side. Continue north and when you reach the end, double back to the station, where you learn that Kaneshiro "leaves no tracks." This leads to you finding out the location of Kaneshiro's Palace. Welp, you can't reach the Palace today, so you'll head back home. Morgana reminds you that the TV shopping show is on today, where you see 20 Mental Floss for 1,980 yen (cures Forget), so spend the money if you want. Go to bed to move to the next day.
Tip: Make sure you have your party made up before you start tomorrow, as you will be getting into some fights. It might be a good idea to omit Ann from the party, as one of the forced encounters uses ice spells.
There will be some story bits, with things taking a serious turn for the worse, as you need to deliver three million yen to Kaneshiro within three weeks. Although it was Makoto that got you in this mess, she also helped you gain access to Kaneshiro's Palace, which is where you will regain control. Enter the bank and after a brief encounter with some guards, you are free to move...or not. You can only go towards the reception room, which is towards the northeast corner of this initial room.
You can't go anywhere else, so just follow where the guards point to finally reach the reception room. Once inside, examine the mountain of cash on the desk to trigger some scenes, which will lead to a battle. You'll be facing off against two Chivalrous Guards, who can be quite a challenge right now, since they are not weak to anything. Also, they are strong against both physical and gun damage, so you will need to resort to using magical skills on them. To add onto that, they know the Rampage skill, which can put quite a hurting on you, so have Morgana (hopefully you brought him) ready to use Media.
There is one strategy you can gamble on, if you wish to use it. If your character has access to Lucky Punch or you have Morgana in your party, then you can hope that it triggers a critical on both, making it possible to pull off an All-Out Attack. Play it safe and try to keep your health up at all times, as when you defeat the first two guards, another two will appear. Defeat the second pair and a third set shows up, which will make your party run away. Rush to the exit for another scene, which is quite badass, with a new character being placed into your party.
The fight here is a bit easier than against the Chivalrous Guards, although there are still two in this battle. The other enemy in the fight is something called a Floodbringer Demon, which actually has a weakness, Nuclear damage. Luckily for you, Makoto has access to such a set of skills, so use Mafrei twice to deal some decent damage. Depending on who Makoto replaced, you might be out a healer, although she does have access to the mid-tier healing skill, Diarama, in case anyone gets low. Keep at it, using an enhanced strategy from the previous fights to win in no time. More scenes will occur, then you'll be able to go to sleep, where your Magician Confidant will rank up to level 4.
Your mission to take down Kaneshiro officially begins today and you have until July 8 to finish up the whole thing, with July 6 being the deadline to get to the Treasure for the first time. Unlike previous Palaces, though, you can get there in one shot, so there's no need to rush, which means you'll be working on Social Stats and Confidants for now. When you get control, head over to the Velvet Room on Central Street. You'll unlock a new service in the Velvet Room, which is the ability to sacrifice Personas to give experience to another.
This is found under the "Create New Personas" option and is called Gallows. The experience you receive is based on the Confidant rank of the Persona you want to strengthen, as well as the level of the Persona you sacrifice. For example, at this point in the game, you should have Chariot at Rank 9, so sacrificing something like Pixie to strengthen Shiisaa will only net you 75 XP. However, if you use a level 22 Matador instead, you should receive around 3,500 XP. You're likely strapped for cash right now, so it might be best to hold off on doing anything with the Gallows for now.
Speaking of cash, you're going to need a decent amount to get you through the next week or so, which is when you'll be diving into Kaneshiro's Palace. Around 20,000 yen will do the job, although the more you have, the more leeway you can get here. Note that you will get 5,000 yen for free tomorrow knight, but that won't happen until the very end of the events, so the amount of money you get is up to you. Also, you will need a Persona of both the Emperor and Devil Arcanas, so that will be some extra money.
Back to the tasks at hand, you're going to be hanging out with Ann after school, knowing you won't rank up here. Take her someplace fun, with the destination being Inokashira Park. When presented with choices, pick "You should make some" to get some points. If you ordered the Mental Floss from the TV channel, it will be waiting for you whenever you get home in the evening. Alright, it's time to travel to Shinjuku (it'll cost 190 yen), where your only order of business is to purchase some Mega Fertilizer (3,000 yen) from the Flower Shop. That's all here for now, so head back to Shibuya and order some Hot Coffee at the Diner (one point to Guts and three to Knowledge).
After school, go out into the hallway to find Ryuji, then choose to hang out with him. Your Confidant won't rank up, but you can choose to go somewhere fun, specifically Suidobashi. When prompted with options, pick "Go by yourself" to get some points. At night, go upstairs and feed your plant the newly bought Mega Fertilizer, which increases your Kindness by three points, as opposed to the two with the previous food. Now, spend the 190 yen to travel to Shinjuku again, where you will want to talk with the fortune teller from earlier.
She can be found on the first branching path to the right. You don't have to worry about responses here, so pick whatever you want. She predicts that you will become 5,000 yen richer whenever you go home. She also talks of a terrible fate, leading to her wanting you to purchase a Holy Stone from her, for the low, low price of 100,000 yen. No, those are not extra zeroes in there. This Holy Stone will become important in the near future, but don't worry about it for now. When you return home, Sojiro ends up giving you 5,000 yen...hmm, it looks like that lady's fortune was true after all.
On the train, you will be able to get a seat, so use this opportunity to finish reading The Great Thief, giving you three points in Knowledge and leveling it up to Rank 3. During class, you will be asked a question, with the correct answer being "Pope Joan," netting yourself a point in Knowledge. After school, head to the library and exchange The Great Thief for The Illusory Popess. If you don't have an Emperor Persona on you, go to the Velvet Room and get one, then answer Yusuke's text to hang out with him.
Confidant: Choose "It's novel" for the first answer, then "I can't wait" for the second one.
When you return home in the evening, check out the TV downstairs to see another trivia question. The correct answer is "Ordering food without money," netting you a point in Knowledge. You also learn about a magazine article that you set up with Mishima, which was written by Ohya, that journalist. It's a good idea to visit her at the Crossroads Bar in Shinjuku, so head there and choose "form a deal with her" to get things rolling. Pick whatever responses you want, with the end result being the Devil Confidant being established, as well as three points in Charm.
You will get control quickly, as the time moves right to the after school slot. Answer Ann's text to go and meet her at the Underground Mall, where you will want to take her to Harajuku, although you won't rank up quite yet. At home, go ahead and call up Kawakami to have her come over.
Confidant: Pick anything for the first answer, "How rude" for the second, "You need to love yourself" for the third and any for the final one.