Nostro and Vostro Account
A Nostro or Vostro (from
Latin: nostra and vostra, ours and yours) Account is a
deposit account that a
bank holds at a foreign or correspondent bank for the purpose of holding foreign currency and making/receiving international payments.A single
deposit account is a Nostro account from the perspective of one bank and a Vostro account from the perspective of another. The bank that owns a correspondent account at a bank in another jurisdiction refers to such account as a Nostro account ("our account at your bank"). The correspondent bank will refer to the same account as a Vostro account ("your account with us").
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Vostro Account
A demand account maintained for a bank by a correspondent bank in a foreign country. The nostro account of one bank is the vostro account of the other bank.
VOSTRO ACCOUNT
VOSTRE LINEE. VOSTRO CONTO