Correspondent relations between banks in the modern world are an integral part of the activity of any bank. The establishment of this kind of relations allows banks to efficiently make payments in foreign currency for the performance of any payments for export-import contracts that are permitted by the current legislation and settlements within the country in connection with the operations of correspondents and their customers.

The importance of correspondent relations, taking into account their advantages, only increases with the passing of time. Nevertheless, there is a considerable problem associated with finding a suitable and reliable partner bank. Selection of an unfair partner can bring significant risks to your bank. In order to prevent this, it is necessary to conduct a multilateral analysis of possible correspondents, verify their financial position and reputation, and consider the conformity of their services to the needs of your bank. This task is not simple and requires a professional and responsible approach.

Law&Trust International has strong knowledge and experience in working with banks (we have been cooperating with more than 120 banks all over the world for more than ten years). Law&Trust International’s specialists will help your bank find the most suitable and reliable partner, and also assist you in opening a correspondent account in any jurisdiction. We will organize opening a correspondent account of the "Nostro" type for you in the shortest possible time. The Nostro account is a current account opened with the correspondent bank in the name of the bank. In order to be able to control the status of your Nostro account, the bank creates an "internal correspondent account" on its balance sheet, where, for its part, it fixes all the movements of funds and transactions on its Nostro account.

In the process of opening correspondent accounts, Law&Trust International searches for a suitable correspondent bank, draws up the documents required for the registration of accounts of resident banks and non-resident banks, provides banks with information support on this issue in strict compliance with the requirements of modern legislation.

Opening a correspondent account in the US, Europe, and Asia is now easier than ever!