That is intended; The Auto save feature should have it so that when you enter a new area, so that when you are defeated, it should spawn you back to the very start. The game will automatically load whatever the newest save file is, so keep that in mind!
That is mainly a multiplayer feature; In Coop if you are defeated, you lose half your gold but can still resurrect party members by exiting the map. The Bank also makes it easier to send gold to other players so they can purchase items in multiplayer!
In Addition to this, the Hawkman has some benefits to when he uses the bank in both Singleplayer and Multiplayer!