Definition of vostro account in English:

vostro account


  • A bank account held by a foreign bank with a UK bank, usually in sterling.

    • ‘The system of nostro and vostro accounts facilitates foreign exchange dealings and settlements and allows the settlement of currency transactions between Australian and foreign banks.’
    • ‘Local banks may not enter into a swap of the type mentioned above unless an underlying contract relating to a current account (balance of payments) transaction exists or non-resident banks maintain credit balances in Maltese Liri in their vostro accounts which they may wish to swap for limited periods.’
    • ‘Scales can be calculated both on debit and on credit sides for both nostro and vostro accounts and may be set up according to tiered balances.’
    • ‘For the sake of completeness it is as well to note the banker's jargon that the account which Bank X maintains with its correspondent Bank Y is called a nostro account; that which Bank Y maintains with Bank X is called a vostro account.’


Vostro from Italian, your, yours.


vostro account