Nuyen, where is the cred really?, Discussion, and buying theoretical pants Options

[Blitzkrieg]

With the ubiquitous Comlink networks, and Nexi around these days, it is hard to know exactly how we do simple things like shop.
So I ask you? Where is an individual's wealth kept?

We know that in the main stream it is either pure data or on cred sticks, but is this data...

In the banks?
Stored on the Comlink?
In the corp banks?
Exclusively in the form of credit based on future work? (There is no real money per say but rather hours of employee work.)
In independent banks?

I would appriciate any theories on the matter, it looked to me like the books seem to waffle slightly on the subject.

Here's how I believe it works.
Forgive me if this is confusing but I am trying to map the parties/Nodes involved in a simple transaction at the fashion boutique. They "talk to eachother."

Buyer=Buyer's Comlink
Shop=The shop's "Comlink"
The buyer’s bank: BANK A's Nexus
The shop’s bank: BANK B's Nexus

Buyer: Picks up a pair of pants she likes and Selects buy on her Comlink.

[/indent] From Buyer To Shop: “I want to buy these pants.�

Buyer to Bank A: “I want to buy these pants.�

BANK A to Buyer: “Request verification of Buyer Comcode, and Identity, including personal tidbit of info that only you would know.�

Buyer to BANK A: “Here are my papers BANK A, and here is my verifying personal info tidbit which only I would know, which proves I’m me.�

BANK A to Buyer and Shop: “Everything checks out.�

From Shop to Buyer: “Let me call your bank, BANK A, to see if they heard you�

From Shop to BANK A: “Buyer is buying pants.�

BANK A to Buyer: “Request verification of Buyer Comcode, and Shop Identity.�

Buyer to BANK A: “Here are my papers officer.�

BANK A to Buyer and Shop: “We have the buyer on the other line, they approve, Everything checks out.�

BANK A to Shop: “Where should I transfer the money to?�

Shop to BANK A: “To BANK B�

BANK A to BANK B: “I am releasing $50 to you BANK B, for these pants.�
[indent]

BANK B To all parties: “All’s well and have a nice day, Here are your receipts.�
BANK A, BANK B SHOP and BUYER all receive an electronic receipt, which states.

The Buyer’s Receipt
BUYER has purchased Pants for $50 from SHOP 50$ was deducted from their account in BANK A.

The Shop’s receipt:
BUYER has purchased Pants for $50 from SHOP 50$ was deducted from their account, in BANK A to BANK B

BANK B’s receipt:
BUYER has purchased Pants for $50 from SHOP 50$ was deducted from their account, from BANK A to BANK B

Is this the correct model for an everyday exchange?