🚀 Launching Soon: Get 1 Month of Growth Tier Free by signing up for Early Access

Glossary

Vostro account

The same account as a nostro, viewed from the perspective of the bank that holds it on behalf of another — literally Italian for 'yours'.

A vostro account is the mirror perspective of a nostro: when an Indian bank opens a USD account with a US correspondent, the Indian bank calls it a nostro and the US correspondent calls the same account a vostro ('your account with us'). The terminology is purely about which side is speaking.

From the correspondent bank's books, a vostro is a customer liability — the foreign bank's funds held on deposit. The correspondent earns fee income on the volume of payments processed and may provide overdraft, FX, and reporting services around the account.

Vostro reconciliation, viewed from the correspondent's side, is about ensuring that the customer-instructed activity (payments out, receipts in) matches the correspondent's processed activity, and that the correspondent's reporting back to the customer (statements) accurately reflects this. Misreporting is a service-quality issue with regulatory implications under the relevant correspondent-banking rules.

Put this into practice

See how ReconPe handles vostro account on your real settlement data. Free tier, no card required.

Start reconciling