Configuring nostro accounts

After deciding where to track nostro transactions and balances, and choosing to do so within the Tuum system, you must configure nostro accounts within the Tuum system. This chapter will guide you in setting them up.

You can skip this configuration step if you choose to track nostro transactions and balances outside the Tuum system.

Configure

Follow the instructions below to properly configure nostro accounts using the Tuum BackOffice interface.

1. Go to Nostro.

2. From the content menu, select the appropriate settlement service provider. The available options may vary based on your Tuum system configuration, but there must be at least one of the following options.

   1. bc-api: refers to Banking Circle as a provider of settlement services.

   2. correspondent-accounts-api: refers to any correspondent bank that provides settlement services. Its payment-related nostro transactions and balances are recorded in the Tuum correspondent accounts module.

   3. currencycloud-api: refers to Currencycloud as a provider of settlement services.

   4. lhv-api: refers to LHV Bank as a provider of settlement services.

   5. swift-api: refers to any correspondent bank providing settlement services through the SWIFT network.

   6. sepa-api: refers to Centrolink as a provider of settlement services.

   7. payment-router-api: refers to any correspondent bank that provides settlement services through the Tuum payment router.

3. On the Nostro accounts page, click Create nostro account.

1. Set the parameter values for the particular nostro account and click Create.