Capital One is the online banking unit of Capital One Financial Corp. You may open a checking or savings account, a money market account, and a certificate of deposit with this online partner. It is also very important for you to know your Capital One routing number.
Capital One is the brainchild of Richard Fairbank and Nigel Morris, and it came into being in 1988 as a unit of Signet Bank. In 1994, Capital One spun off, maintain its name and offering credit cards. In 2012, Capital One bought ING Direct and rebranded to Capital One 360.
If you are looking for a full-service online bank that has a massive network of no-fee ATMs and several brick and mortar branches, then Capital One is what you need. However, Capital one’s rates on savings are not as competitive as other larger banks’. Nevertheless, if you are a Capital One account holder already or if you are planning to be one, the best news for you is that wire transfer to this bank is quite easy.
- 1 What is Capital One Routing Number?
- 2 Capital One 360 Bank Services
- 3 Pros and Cons of Capital One
- 4 Conclusion
What is Capital One Routing Number?
If you plan to make a wire transfer or to receive money from somewhere else through this method, then you will need Capital One Routing number. This number is the nine-digit figure used by the Federal Reserve to identify the bank location or the district in which the bank receiving the money is.
Parts of the Capital One Routing Number
The first four digits represent the Federal Reserve. The first and second digits will tell you which of the 12 districts the financial institution resides. The next four digits identify the name of the bank. These numbers allow different financial institutions to determine the entirety of the transaction and how to process it.
The last digit would be the “check digit,” which is used to validate the whole routing number set. That is what the Capital routing number or any bank and credit union routing number will tell you.
Capital One Routing Numbers:
- 051405515 Capital One Bank (USA), N.A.
- 056073502 Capital One, N.A.
Capital One Wiring Numbers:
- 051405515 Capital One Bank (USA), N.A.
- 056073612 Capital One, N.A.
- NFBKUS33 SWIFT Code
How to Find Your Capital One Routing Numbers
We know that the internet is not always available. This fact is true, especially for those who are using prepaid data. Hence, when you are out and doing your business, and you cannot remember your routing number, there is another way to find it.
If you have your Capital One checks or checkbook, you can always take a peek and find your routing number on it. You will find three number sets at the bottom part of your check. The first set of figures that you will see would be the routing number. That is the left-hand most set. The one at the center is your account number. The right-most set is your check number. You only have to remember that the first set is the routing number.
Capital One 360 Bank Services
If you are wondering what services you can get from Capital One, then here are some of them. Read through and see what fits you best.
Capital One’s 360 Checking account is an interest-bearing account. It has tiered rates, allowing larger balances to earn even more. You can open and keep the account for free. Your first checkbook also comes for free. You can make transactions with it online like paying bills or making deposits. In case you have overdraft problems, 360 Checking customers have three options: use the overdraft protection that includes auto-declines, use free savings transfers, or apply for an overdraft credit line.
- Balances earn interests.
- There are no fees or maintaining balance.
- Get fee-free choices to avoid overdraft charges.
- There is a limited number of branches.
- Account-holders generally earn less than 1 percent APY.
Capital One’s 360 Savings account has no maintaining balance requirement. It also has earnings that are 10 times the national average for all balances. This account is ideal for all levels of savers. The account is also accessible online and through mobile devices. Besides, you can set savings goals and automatic savings plans online or on mobile. You may also move money from your 360 Checking to your 360 Savings.
- You don’t incur monthly service fees with this account.
- Mobile deposits and automated savings plans are available in the app.
- The APY is 10 times higher than the national average.
- Since every account offers a huge APY, there is no longer a tiered option to earn more interest.
- Other banks offer a much higher APY option.
- The savings account has no option for an ATM card.
Money Market Account
The APY of Capital One’s 360 Money Market has a competitive APY for balances $10,000 or more. However, there is no ATM card option for this account; no check-writing privileges either. Nevertheless, with this account, you get a tool that would aid in tracking your savings goals. You can deposit checks anytime using cellphones.
- This account has a competitive yield.
- You won’t incur monthly maintenance fees.
- There is no minimum balance in keeping your account.
- The APY of this account is one of the top APYs offered.
- You need $10,000 for balance if you want to enjoy the top yield.
- There is no ATM or debit card option.
- You don’t have check-writing.
Certificate of Deposit
Capital One 360 has a full spectrum of CDs offered at different terms. You don’t need a minimum deposit, yet the rates are competitive. All CDs enjoy daily accrual of interest and monthly compounding. Each client can own up to 50 CDs at once. The terms of the CD would be the basis for early withdrawal penalties. The penalties are quite standard unlike in other banks. Early withdrawal of CDs with 12-month terms or shorter would incur a fine equal to three months of interest. For CDs with longer terms, the penalty equals six months of interest.
- There is no minimum deposit needed for this account.
- You receive competitive rates.
- There are options to receive interest disbursements monthly or annually.
- Compound interests are monthly.
- Some other banks give higher yields.
Pros and Cons of Capital One
We’ve gathered some people’s views about Capital One, and here’s a summary of the information we gathered.
- Capital One is a hybrid financial institution. It provides online banking services. If you are a resident of the mid-Atlantic, Louisiana, or Texas, finding a Capital One branch would be easy.
- You don’t incur a monthly fee, nor do you need minimum balance for a checking account and savings account.
- Access to over 39,000 ATMs also comes with no fee.
- The mobile bank app of Capital One has a high rating.
- While deposits receive competitive rates, such rate is still low when compared with the available APY of other known financial institutions nationwide.
- Customers who sign up for overdraft protection but fail to replace overdrawn amounts in time would incur an overdraft fee of $35 per transaction.
- Residents outside the mid-Atlantic, Louisiana, or Texas would have no access to bank branches since you find Capital One physically only in these three places.
Fortunately for Capital One account holders, they will only have to remember a set or two of routing numbers. Other banks and credit unions have many variations that they have one different routing number from one State to the other.
There are even some that have routing numbers based on their account numbers just like they do in Huntington Bank routing numbers. For every account number, comes a different routing number.
Question on Capital One Routing Numbers?
Anyway, we hope that this has been of any help to you. Feel free to ask us anything related to the Capital One routing number. You can use the comment section down below to leave us a message.