Savings deposits are described as bank accounts on which you cannot:

1. Savings deposits sit in M2 rather than M1 for a reason. 2. M2 includes savings deposits in banks. 3. These are bank accounts on which you cannot write a check directly. 4. You can still withdraw the money easily at a machine or bank. _Source: OpenStax Principles of Macroeconomics for AP Courses 2e (CC BY 4.0), Ch 13 'Money and Banking'_