Yes, and that feature has very limited value, Say you do smithing, you have stored materials, style and trait stones in bank, this frees up invetory. however as you pick up more or deconstruct you duplicate many of the stacks in invetory. Yes the benefit is that you don't have to visit the bank and redraw items before you start crafting.
So yes you save some slots but not many.
The bad part of this is that you found some loot you want to deconstruct, now you has to be careful as any items in the bank will show up on the deconstruct list, not only loot stored for later research but also quest rewards you stored as your level is to low and other good stuff.
The real ugly part is that having instant access to an mix of bank and invetory on any world crafting stations force the system to store the bank in shard server memory and not in an remote database like guild banks. In short the instant access at crafting stations might be the reason for ZOS to not give us decent bank space.
Had you had to go to the bank to access it they could store the bank invetory other places than shard server memory.