How Do I Make Capital One International Wire Transfer

Capital One is an American bank holding company that specializes in credit cards, checking and savings accounts, as well as auto loans. The company’s headquarters are in McLean, Virginia, and all its operations are primarily in the United States. More than 25 years ago, the financial company revolutionized the credit card industry with technology that has placed them as the sixth-largest bank in the country and aims to bring ingenuity, simplicity, and humanity to banking. We shall see how you can do a Capital One international wire transfer shortly. 

By the way, Capital One’s mission is to make an impact through the various services that they offer. Capital One started on the belief that everyone should be able to access financial services. The company’s deep commitment to financial inclusion reflects its community partnerships, business, philanthropy, and support for its customers. Its mission is to change the banking system for good, which will improve how banking systems operate.

You can get various services from the company, including sending and receiving money. Since it is among the financial companies that accept international transfers, we will check how you can carry out the process. We all understand the importance of sending money to others. When working away from home, you can easily send money to your family. Times have changed as you can send money online, unlike when you had to send funds using money orders and checks.  

How to open a Capital One account?

Before discussing the best way to send money internationally with Capital One, let me discuss how you can open your account. Capital one is among the financial companies that allow you to open your account online. Before opening your account, you must comply with the federal government whereby you should have various things such as; 

  • Social Security Number
  • An identification document
  • Email address
  • Phone number
  • Physical address

Once you have everything with you, you can start opening an account. There are different accounts that you can open with Capital One. Existing customers can open more accounts using the Capital One mobile app by tapping “Browse Financial Products” in the Profile section at the bottom of the screen.

Opening your account with the company is very simple. You can open your account online within about 5 minutes. You only need to grab two forms of ID (such as a Social Security card, passport, driver’s license, or birth certificate) and proof of address and apply online right from your phone or tablet.

Remember that you can also open your account with a computer. You also need to understand that Capital One is a safe bank since it carries FDIC insurance to protect its customers’ accounts.

In case of a bank failure, you will get your money from the insurance firm for any depository account such as savings, checking, and certificates of deposits (CDs) up to $250,000. You can visit FDIC to get more details about the insurance. 

Which Capital One bank account is good for me?

capital one international wire transfer

The best bank depends on your preferences. Therefore, the best account may be the worst account for someone else. You should choose a Capital One bank account based on your lifestyle and goals. For example, a checking account is suitable for day-to-day spending activities, while a savings account helps you keep your money for future uses. Certificates of deposit (CDs) can help you save funds with a fixed interest rate and a fixed amount of time. 

You can also get an account for your teen, whereby you can teach them how to manage funds early. That teaches them to be responsible for the same. Teen accounts feature a free debit card and a friendly mobile app. The kids’ savings accounts earn interest. 

What are the various accounts you can open at Capital One?

There are various accounts that you can open from the bank. They include the following.

i) 360 Checking

The 360 Checking is a fee-free online account for your daily use. The account also comes with a top-rated mobile app for convenience whereby you can access your money on the go. You also get 0.10% APY which is variable, there are no fees or minimum balance requirements as you will find in most accounts.

You can access over 70,000+ fee-free ATMs nationwide, whereby you can withdraw money from your account using your debit card. Remember that most checking accounts come with debit cards.

ii) 360 Performance Savings

Suppose you need to keep the money for your future use of the 360 Performance Savings account. The account is fee-free and allows you to make online savings as you earn excellent savings interest rates of up to 0.40% APY Variable. The account has no fees or minimum balance requirement. Remember that any balance can earn interest. 

iii) 360 CDs

Another account that you can use to earn interest with guaranteed returns is the 360 CD account. The rates and terms begin at six months. You get 0.80% APY fixed APY. The account requires no minimum balance requirement, and thus you can save as little as you feel appropriate. It has no market risk and is FDIC-insured. You only need to choose the duration you should save your funds. 

iv) MONEY Teen Checking

If you have a little one with you, you can open the MONEY Teen Checking account, a free debit card, and an easy-to-use mobile app. It earns you a 0.10% APY which is a Variable APY.

There are no fees or any minimum balance requirement for the account whatsoever. As a parent, you can open a joint account with your kid for your understanding. 

v) Kids Savings Account

The Kids Savings Account is another kid-friendly savings account that earns interest and assists your kid in growing their money. It gives you a 0.30% APY which is a Variable APY. It has no fees or minimum balance requirement whatsoever. The account allows parents to own it jointly with their children. 

How do I make a Capital One international wire transfer?

Wire transfer may not be the cheapest way to send money internationally but is effective when transferring large amounts of money to international recipients. Wire transfers allow you to transfer or receive money quickly and securely.

Capital One is among the banks that allow you to send money internationally and effectively. Since there are various accounts in Capital one, your account determines your limits, fees, and eligibility for the process. 

Wire transfers apply to both personal and business transfers. You can send a wire transfer to an account that has operated for at least 30 days within the United States and U.S. territories. The only disadvantage with online wire transfers is that you can only send them within the United States ( U.S. territories included).

The finances arrive the same day if you do the transfer by 2 p.m ET Monday-Friday ( Federal holidays exempted). If you request the transfer after that time, it will arrive the next business day.

You need to note that it is difficult to cancel an online wire transfer, and only a representative can resolve the issue. That means you should check your details keenly to avoid making errors. You can do domestic wire transfers by phone, online, and in-branch.

When it comes to international wire transfers, you must carry out the transfer at a branch. The In-branch In-branch domestic plus international wire transfers are for High-Yield Checking, Essential Savings, and Capital One Essential Checking account customers.

It is essential to note the requirements before visiting any bank for the transfer, and thus you may call customer care to ask about them it.

What do you need to make a wire transfer at Capital One?

You should have various things when sending money via wire transfers. They include the following.

i) When sending a wire transfer to a company

  • Title company’s name
  • Title company address
  • Loan/escrow/order number (if available)
  • Title company bank’s routing number (ABA)
  • Title company bank’s address
  • Mobile phone for two-step identity verification
  • Intermediary bank address – optional
  • Intermediary bank wire routing number (ABA) – optional

ii) When sending a wire transfer to a linked external account

  • Account holder’s name
  • Mobile phone for two-step identity verification
  • Wire routing number (ABA)
  • Intermediary bank wire routing number (ABA) – optional
  • Intermediary bank address – optional

How is a wire transfer different from an ACH transfer?

Capital One also allows you to carry out an ACH transfer to another bank. The transfer involves moving funds via the Automated Clearing House before reaching the receiving account. That is one way ACH transfers differ from wire transfers.

Also, wire transfers are faster compared to ACH transfers which take a day or more to complete. Wire transfers and especially domestic ones can be completed within 24 hours. 

Moreover, wire transfers allow you to send large volumes of money compared to ACH. However, ACH transfers are more secure since you can cancel before the funds reach the recipient. Capital One ACH transfer to another person usually happens for free. However, wire transfers require some fees.  

Bottom line

Capital One is an American bank holding company that specializes in credit cards, checking and savings accounts, plus auto loans. The company’s headquarters are in McLean, Virginia, and all its operations are primarily in the United States.

You can open your account online using your smartphone, computer, or tablet. There are various types of accounts that you can open within the company, such as savings, CDs, and checking accounts. Wire transfers are the best for sending large amounts of money.