Name: Luke Wolter
Date: Around 1995
How If I use a debit card in across the country from my bank, how does the
transaction get to my bank?
Telecommunications......I would think that if your bank agrees to give a
debit card (cash station) then your balance, PIN, etc. is held in a central
computer. When you got to get money, the cash machine goes to the central
computer, which access your account and says, yes/no he/she has the money,
and tells the cash machine to give you money. Then it sends a transaction
to your bank, saying you withdrew so much money and debits your account.
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Update: June 2012