Let us say you are withdrawing money from a nearby ATM. Can you make a list of all the things you need to do for that? You need your account number, your Personal Identification Number (PIN) and you need to enter the amount of money. When you put your card in the machine, it verifies your PIN, collects information about your bank account, the bank and the balance amount. The ATM machine does all of this, communicates with your bank and allows you to withdraw the money. | Let us say you are withdrawing money from a nearby ATM. Can you make a list of all the things you need to do for that? You need your account number, your Personal Identification Number (PIN) and you need to enter the amount of money. When you put your card in the machine, it verifies your PIN, collects information about your bank account, the bank and the balance amount. The ATM machine does all of this, communicates with your bank and allows you to withdraw the money. |