Here's the definition. Nostro" and "Vostro" are two different terms used to describe the same bank account. The terms are used when one bank has another bank's money on deposit, typically in relation to international trading or other financial transactions.1 Both banks in the venture must record the amount of money being stored by one bank on behalf of the other bank. The terms Nostro and Vostro are used to differentiate between the two sets of accounting records kept by each bank.