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...
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.
The best offline currency converter.
Built for travelers.