The BoE considers savings accounts to be part of the 97% of money in an economy. Although I'm still not too sure if you're on the side of a bank using a deposit

The BoE considers savings accounts to be part of the 97% of money in an economy. Although I'm still not too sure if you're on the side of a bank using a depositor's money or minted money for a loan. > Of the two types of broad money, bank deposits make up the vast majority — 97% of the amount currently in circulation.