Vostro Account
/ˈvɒstroʊ əˈkaʊnt/
Definitions
- (n.) A bank account held by a domestic bank on behalf of a foreign bank enabling the foreign bank to transact in the domestic currency.
The foreign bank used a vostro account to settle transactions in the local currency.
Forms
- vostro account
- vostro accounts
Related terms
See also
Commentary
In legal and banking contexts, a vostro account is used to facilitate international transactions and must be clearly distinguished from a nostro account, which is the reverse arrangement.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.