Nostro Account

A nostro account is an account a bank holds in a foreign currency at another bank. It is used to settle cross-border payments and manage foreign currency liquidity.

Nostro accounts are typically held with correspondent banks in other countries. The mirror account from the other bank's perspective is called a vostro account.

Related Terms

Vostro Account

A vostro account is an account a foreign bank holds with a local bank, usually in the local currency...

Correspondent Bank

A correspondent bank provides banking services on behalf of another bank, often in a different count...

Cross-Border Payment

A cross-border payment is a transfer where the payer and payee are in different countries or currenc...

SWIFT

Society for Worldwide Interbank Financial Telecommunication

SWIFT is a global messaging network that financial institutions use to securely transmit information...

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