Vostro Account


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Related to Vostro Account: Nostro account

Vostro Account

An account that a bank holds on behalf of another bank in another country. The term is most common in the United States and the United Kingdom.
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402] noted, the difference between a nostro account and a vostro account was clearly set out in a treatise in English by John Carpenter [1632, pp.
401] Waninghen explains carefully "that a Vostro account is opened for a foreign principal and a Nostro account for a foreign agent.
The first of several such accounts is the "Compte du Sieur Humphray Willette de Londres," who also has a vostro account.
10] included a long explanation of the need for nostro and vostro accounts because his own experience showed him that many pupils had difficulty understanding the matter.
At present, regulations for the rupee vostro accounts do not provide for such use of funds.