How to wire money with Capital One

Capital One is the 6th largest bank in the US, offering personal and business services in North America and the UK. If you have a Capital One account you may be wondering how you can send a wire payment to an individual or business, either at home or abroad.

Sending a local US wire with Capital One is pretty simple to do, but there’s a fee to pay which can be pretty steep. Options for sending payments overseas are more limited and can be even more costly. In fact, depending on the Capital One account you have, you may not be able to send a direct international wire at all.

This guide covers all you need to know about how to wire money with Capital One. We’ll also cover specialist online services for cross-border payments, including Wise and OFX which can offer better exchange rates, lower fees, and faster delivery times compared to Capital One.

Capital One Wire Transfers

All Capital One account holders can send wire payments domestically in the US by phone. Lines are open 9.00am to 5.00pm ET, Monday to Friday.

If you’ve got any of the following account types you can also send domestic payments online:

• 360 Checking
• 360 Savings
• 360 Money Market
• Performance Savings
• Total Control Checking
• Confidence Savings
• Savings Now
• Simply Checking

Capital One customers with the following account types will be able to send payments in a branch – and can also choose to send international wires. International wire services are limited to these account types, and can only be arranged by visiting a branch and getting over the counter service:

• Essential Checking
• High-Yield Checking
• Essential Savings

Before you can send a wire payment with Capital One you’ll need to make sure you have all the required  information to hand. For a payment to a title company you’ll have to collect:

• Title company’s name and address
• Loan/escrow/order number (if provided)
• Title company bank’s wire routing number (ABA) and address

And for a payment to another account on file, you’ll have to provide:

• Account holder’s name and banking information
• Wire routing number (ABA)

If your Capital One wire payment is going overseas you’ll probably also need:

• Bank’s SWIFT/BIC code
• Reason for payment (this applies for select countries only)
• Intermediary bank information – optional

Before you can send a payment to an external account you’ll need to link it to your Capital One account.

You can do this online – but you’ll then usually have to wait 30 days before you can send a transfer.

Whether you’re sending to a business or external account, you’ll also need your mobile phone for two step identity verification.

How to wire money with Capital One?

If you have an eligible account, the easiest way to send a Capital One wire is probably using the online banking system. Here’s what you’ll need to do:

Online

1. Link the external account if required

If you’re sending to a title company, or making a repeat payment, this step isn’t needed. However, if you’re sending to an external account for the first time you’ll have to log into your online banking and link the account before starting.

To do this, select your profile picture which you’ll see in the top right, then Settings. Look for the option for External Accounts, and select Add External Account. You’ll then be guided through the steps needed to enter the external account information, including the recipient name, bank account number and address, and ABA routing number.

2. Sign into Capital One online banking 

Sign in to capitalone.com and select the account you want to send the wire from. Tap Account Services & Settings, and then select Wire Money. Don’t forget this service can only be used for US domestic payments, for international wires you’ll need an alternative provider.

3. Add and verify all the payment information 

You’ll be prompted to enter all the payment information, including the business name and bank details if you’re paying a title business. If you’re paying an external account you’ve already linked, you may not need to enter additional banking or recipient information, you’ll just have to select the recipient account from the list of linked accounts.

Enter the amount of the payment, any message you want to add for the recipient, and verify everything.

4. Complete the security step 

Follow the prompts to complete the security step – make sure you have your Capital One registered phone nearby so you can do this smoothly.

By Phone

All Capital One account types are eligible for phone support when sending domestic US wire transfers. You can call the Capital One team on 1-877-383-4802 to be connected with the wire team, any time during the normal working week (ET).

At a Capital One branch

If you have any of the following account you can also send local and international wires in a Capital One branch:

• Essential Checking
• High-Yield Checking
• Essential Savings

You’ll be guided through the process by the Capital One team – just make sure you have all your recipient’s information to hand when you head to the branch.

How to avoid international wire transfer fees

Sending an international wire with your regular bank can be expensive. There’s often a high transfer fee, plus potential intermediary costs – and you may not get the very best exchange rate on offer either.

You’re not out of luck through – here are some smart ways to cut or avoid international wire fees:

• Use a multi-currency account, from a specialist provider such as Wise or Revolut
• Choose a specialist international transfer service like Wise or OFX
• Compare your options with our comparison engine to see a range of providers, including their fees, rates and delivery times

Capital One Wire Transfer Fees and Exchange Rates

Capital One wire transfer fees vary by account type – here’s what you need to know.

Capital One Domestic Wire Transfer Fees

Capital One International Wire Transfer Fees and Exchange Rates

Capital One exchange rates

It’s good to know that the Capital One international transfer fee isn’t likely to be the only charge that will apply to your wire. You’ll normally find you’re also paying an extra cost, known as an exchange rate markup, which is tucked away in the exchange rate used to convert your dollars to the currency you need to send. This is common among banks and currency exchange services – but it makes it tricky to see what you’re paying overall for your wire, and it can mean you’re spending more than you expect in the end.

Bank exchange rate markups are often 3% – which quickly mounts up until this may be the highest of all the international wire fees you face.

Additional fees

Additional fees may creep in, particularly if you’re sending an international Capital One wire payment. These are usually third party costs which go to intermediary banks which pass your transfer through the SWIFT network. They can’t always be predicted in advance, which may mean the recipient gets less than you expected in the end.

Alternatives to Capital One wire transfer

Modern online alternative providers like Wise and OFX could provide better exchange rates and lower fees when you’re sending a payment overseas. Here are a few to consider:

Wise: Low cost international transfers which use the mid market rate, to 80+ countries. Over 50% of payments arrive instantly, and you can set up an account online or in the Wise app easily without leaving home. To learn more about Wise, read our full Wise review.

OFX: Currency specialist offering personal and business payments to 50+ countries, plus currency risk management services, and a 24/7 phone support team to answer your questions. Read our OFX Review to learn more.

Western Union: One of the world’s largest payment providers, you can send payments with Western Union for delivery to bank accounts, as well as for cash collection, to mobile wallets and more.

Here’s a summary of Capital One’s fees compared to a couple of online payment specialists – Wise and OFX:

Ultimately the amount you pay for an international transfer will vary based on where you’re sending your payment to. However, the chances are that a specialist provider will offer a better rate and lower overall cost compared to your bank – you may also get a better deal on domestic payment by using a provider like Wise, too. Compare a few to see which provides the best mix of cost and convenience for your needs.

How long does it take for a wire transfer with Capital One?

Domestic wires with Capital One are often received on the same day they’re sent.

International wires can take 3 – 5 business days to arrive.

Ultimately, the length of time it takes will depend on where the transfer is coming from, the value and the processes used.

If you’re sending an international payment, specialist services like Wise and OFX can often provide a faster delivery time as they use their own payment networks rather than SWIFT. This means your money moves faster – and there are not usually any intermediary fees to worry about either.

Receiving money into a Capital One account

There may be a fee to receive a wire into your Capital One account.

If you have the Essential Checking or Saving account, or the High Yield Savings Account for example, there’s a 15 USD charge whenever a local or international wire is delivered. Some other popular Capital One accounts – like the 360 Checking – don’t have a receive fee.

If someone is sending you a wire payment to Capital One you’ll need to give them the following:

• Your account and routing numbers
• Capital One’s SWIFT code: HIBKUS44
• Capital One’s address: 1111 N Town Center Dr.; Las Vegas, NV 89144

Receiving International Wire Transfers

If you have a Capital One account that can be used to receive an international wire, it’s worth knowing that there may be extra charges which are deducted as the payment is being processed.

These fees are in addition to any relevant Capital One receiving fee, and are usually applied by intermediary banks which are involved in the payment as it’s processed through the SWIFT network. SWIFT fees don’t go to Capital One, so you’ll need to ask the sender if any are likely to apply.

Later on, we’ll also cover a couple alternatives to avoid paying these extra fees.

Conclusion

Your options for sending a Capital One wire payment will depend a lot on the account type you hold. All account holders can send domestic payments by phone – but some can’t use the online service, and others can’t arrange international transfers. It can also be pretty costly to arrange a Capital One wire – especially if you’re sending to someone overseas.

Cut the costs, and get a faster delivery time without the worry of intermediary fees, by using a specialist like Wise or OFX. With Wise you can also get a multi-currency account, to hold, send and receive 50+ currencies more easily, as well as making local USD transfers when you need them.

Capital One Wire Transfer FAQ

What is the maximum amount you can wire with Capital One?

There’s no limit to the amount you can send to a linked external account. You can send up to 500,000 USD to a title company with Capital One.

What information do you need to make an international wire transfer with Capital One?

Usually you’ll need the following to send a Capital One international wire:

• Account holder’s name
• Bank’s SWIFT/BIC code
• Reason for payment (this applies for select countries only)
• Intermediary bank information  – optional

How much is a wire transfer with Capital One?

Depending on your account, domestic wires cost 25 USD – 30 USD with Capital One. International payments – where available – are 40 USD – 50 USD.