nostro account

Definition

A banking term to describe an account one bank holds with a bank in a foreign country, usually in the currency of that foreign country.

Use nostro account in a sentence

You may want to try and open up a nostro account if you will be doing a lot of business over seas.

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It was a nostro account and that meant it had to do with another country and used the currency of that country,

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I don't know any banks here in Hickory, NC that are considered a nostro account, I think they are all just small state wide banks.

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