Vostro Account

A vostro account is an account a foreign bank holds with a local bank, usually in the local currency, often at a correspondent bank. It enables the foreign bank to settle payments and manage funds in that market.

From the local bank's perspective, it is a vostro account; from the foreign bank's perspective, it is a nostro account. These accounts underpin correspondent banking relationships.

Related Terms

Nostro Account

A nostro account is an account a bank holds in a foreign currency at another bank. It is used to set...

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...

Need to convert bank statements to spreadsheet format? Try our bank pdf to excel converter to easily export your transaction data to Excel or CSV.

Glossary home

Convert 10 pages free per week.
Try your weirdest statement.

Convert a bank statement PDF free