.I want the meaning of the following sentences.
Banks also finance foreign trade and travel by exchanging the money from people's own country with the money from other countries. They also address checks and bills to people who settle in other cities or countries.
Banks act as foreign exchange agents - they convert national currencies for those who are travelling or are doing business with other countries. They will also send credits and debits to those in other places.
In the present century, banking is no longer an individual profit-making activity as it was in the past.
Banks in the modern age are not merely private profit-making entities that banks were in the past.
- For Teachers