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Nostro and Vostro

Nostro and Vostro

 June 23, 2022

Nostro and Vostro are two unique terms used to portray the same bank account. These terms are utilized when one bank has another bank's money on deposit, typically in relation to international trading or other monetary transactions. The two banks in the endeavor must record the amount of money being stored by one bank on behalf of the other bank.

Loro account is a combination of an ordinary and a Nostro account and is maintained by one domestic bank on the behalf of other domestic banks in a foreign bank denoted in foreign currency.

Nostro, Vostro, and Loro are variations on the Latin words that mean "ours", "yours" and "theirs" respectively.

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