What is the difference between a checking account and a domiciliary account?

A checking account is a type of bank account that allows for frequent transactions, such as deposits, withdrawals, and payments, typically offering features like debit cards and checks. In contrast, a domiciliary account is a specific type of bank account often used for holding foreign currencies and facilitating international transactions, primarily aimed at individuals or businesses engaged in trade or foreign investments. Domiciliary accounts may offer different terms and conditions compared to standard checking accounts, particularly regarding currency handling and international transfers.