The article examines the nature of bank money on two complementary levels. The first level deals with theoretical considerations. Here, the departure point is Social Positioning Theory, which provides a framework to investigate the nature of money. Within the theory, the paper situates bank money in credit-debt relations, that are themselves integral part of a wider productive-consumptive nexus of the economy. In this perspective, bank money is the relation, accounting economic positions of participating members, resulting from their economic activities realized within the context of the overall society. The second level uses the methods of Oral History and Memory Studies and, through semi-structured interviews, provides empirical material illustrating ideas about the nature of money in a specific historical form. The article thus explores the contrasting experiences of banking in the context of a centrally planned economy and banking in the transformation to a market economy. These two contrasting episodes are illustrative because of the significant change in the form of bank money, which brings to light various aspects of its nature. Moreover, the article utilizes interviews that present the lived experience of bankers with years of involvement in the sector, enriching the perspective on the issue under study.