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Capital One for international wire transfers
You can send international wire transfers with Capital One, however, at a higher cost compared to other banks and services. They also use a SWIFT network to process their transactions, meaning transactions will take longer.
Here’s a breakdown of how Capital One compares to an average money transfer provider.
Transfer type | Capital One | Money Transfer Companies |
|---|---|---|
Sending fees | $50 | $0 - $20 |
Receiving fees | $15 | $0 |
Exchange Markup | ~4% - 6% markup | 0% - 2% |
Transfer Times | Up to 10 business days | Instant - 3 business days |
Payment Methods |
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Scoring Capital One
We’ve analyzed the exchange rates, transfer costs, support, and online user reviews. Here’s a quick summary of the top highlights and drawbacks.
- Long history with financial services: Capital One has been around for many years refining their financial offering, including international wire transfers
- Travel credit card offering: Not many banks offer credit cards for travel. Capital One stands out as they offer lower fees abroad. They don’t charge a conversion fee, but the issuer might
- Reasonable receiving fees: Capital One charges $15 to receive money. This is extremely high when compared to a money transfer provider, but is lower or in line with other banks
- Lack of transparency: There’s not much information on the exchange rate markup. This means that it’s likely to be higher than with other services
- International wire transfers can take up to 10 business days
- Capital One was hacked in July 2019: credit scores, zip codes, social security numbers, and other personal information were stolen. This data breach affected approximately 100 million customers in the United States and 6 million customers in Canada
- There is no option to set up international money transfers online. You can only do it in the local branch
Capital One fees and exchange rates
Fees and rates
Exchange rates
Capital One doesn’t disclose its exchange rates, meaning we can’t compare it to the mid-market rate and figure out the markup.
This usually means that their rates are worse or the same as other high street banks.
Based on our analysis and experience, the average high street bank adds around 4%-6% to the real exchange rate. So you should expect to pay for that.
We would recommend contacting the bank directly for a specific quote, otherwise, you might not be able to view the given exchange rate until you are charged for the transfer.
Like other banks, exchange rates for Capital One may not be competitive compared to money transfer services. Some providers like Wise and XE process international transfers using the mid-market rate (this means they don’t add a markup to the exchange rate).
You can get the right value for your exchange if you use a provider that offers the mid-market rate on exchanges.
Online money transfer providers like Wise, Revolut, and Instarem all make exchanges using the mid-market rate, but there’s a small fee for your transfer.
To make sure we haven’t missed anything, we’ve looked at what users had to say online about Capital One. Here’s how users have rated Capital One’s exchange rates.
International transfer fees
At the time of writing, Capital One doesn’t let you send international wire transfers online or over the phone. You can only transfer money abroad in one of their branches.
And even then, not every account is eligible for international transfers. Capital One advises you to contact them (1-800-655-BANK) to confirm your eligibility before visiting the branch.
With this in mind, Capital One charges a flat fee of $50 to send international wire transfers.
In addition, Capital One will charge you $15 to receive money into your account.
For other fees (and a general summary), refer to the table below:
Channel | Fee | Domestic wire eligible | International wire eligible |
|---|---|---|---|
Online | $30 | Yes | No |
Phone | $30 | Yes | No |
Branch | $40 | No | Yes |
Notice: The cutoff time for international wire transfers is 3 pm ET.
Capital One international transfer fees are expensive, especially for smaller transfers. Here’s a fee comparison against Wise and Chase Bank.
Let’s assume you’re making a $1000 transfer from the US to a bank via wire transfer to an account in the following countries:
Country | Capital One fees | Chase Bank fees | Wise fees |
|---|---|---|---|
$50 + ~4-6% markup | $40 + ~5.5% markup | $10.79 + 0% markup | |
$50 + ~4-6% markup | $40 + ~5.5% markup | $13.16 + 0% markup | |
$50 + ~4-6% markup | $40 + ~5.5% markup | $10.36 + 0% markup |
Similarly, we’ve looked at how users have rated the transfer fees.
Transfer speed
Transfer speed
When it comes to international wire transfers, it can take up to 10 business days to be deposited to the recipient's account.
This is extremely high, regardless of who we compare it to.
For example, Bank of America takes 1-2 business days, Truist Bank takes 3-5 business days, and WorldRemit takes up to 24 hours.
However, we found that as long as the transfer has been submitted and successfully verified before 15:00 (ET) on a business day, the money will be processed on the same day. Meaning you will save a day on processing times.
Domestic transfers can be processed faster than international ones, and the cut-off time is 14:00 (ET).
When it comes to speed, this is how users have reviewed their service.
Transfer limits
Transfer limits
Considering you can only send an international wire transfer to your local branch, there is no limit on the amount you can send.
It might seem good, as it's more secure to send money through a branch, and you can make any size transfer. But, all other banks offer this feature, in addition to the international wire transfers made online.
Here’s how other users have rated Capital One’s transfer limits online compared to Wise.
Product offering
Product offering
Mobile app
There is a Capital One Mobile app for customers in the US, Canada, and UK. The app has a rating of 4.0 in the Google Play Store, and 4.8 in the App Store.
However, it only provides convenience for day-to-day banking, and as already mentioned, you can’t send international transfers using it.
Travel credit cards
Not directly related to international transfers, but you can use your Capital One credit card when traveling abroad without paying the usual 3% - 5% fee on conversions.
However, the merchant might still charge you a fee for using your credit card, and other fees may apply.
This is a win for Capital One, as other banks charge hefty fees for using your credit card abroad.
But even then, if you are looking to spend money abroad, there are better options:
We’ve also looked at the general sentiment of user reviews when it comes to product offerings. This graph illustrates how the ratings have changed over time, compared to Wise.
Ease of use
Ease of use
This is how other users have rated Capital One in terms of their usability.
Customer service
In the US, Canada, and the UK customer service representatives can be reached by phone, email, and mail.
There is also an FAQs section on the website for each respective country.
Support option | Details |
|---|---|
Email support | |
Telephone support | 1-877-383-4802 |
International wire transfer support | 1-800-655-BANK |
Chat support | Virtual Assistant |
In-branch support | 775 branches available |
However, most of the contact options are geared toward managing your money, credit cards, and financial support.
To get any information on international transfers, you will need to contact your branch directly via 1-800-655-BANK (where BANK is your branch number).
Similar to the usability, we’ve looked at how users have rated Capital One’s support over time and compared it to Wise.
Safety and trust
Safety and trust
Just like any other modern bank, you get key security features such as:
Facial recognition
Fingerprint ID
Real-time alerts
Debit/credit card locks
Fraud and suspicious transaction alerts
$0 liability for unauthorized charges
And many more
Finally, just like with other parts of this review, we’ve taken a look at what users had to say in the past year about Capital One’s security features. This is how it looks when compared to Wise.
Customer feedback
Customer feedback
The online reviews of Capital One are very mixed.
On the positive side, users find it easy to use and highlight the efficient customer service as well as a generally smooth online banking experience.
However, there are a few negatives as well. Common complaints include difficulties in accessing accounts, problems with customer service responsiveness, and specific issues like unwarranted account closures or delayed transactions.
Some users have also reported frustrations with fraudulent activities and poor dispute resolution.
Overall, while some customers find Capital One reliable and user-friendly, others have faced significant challenges, especially regarding customer support and account management.
Here's a summary of average user reviews so far this year.
Review Category | Jan 24 | Feb 24 | Mar 24 | Apr 24 | May 24 | Jun 24 | Jul 24 |
|---|---|---|---|---|---|---|---|
International Transfers | 1 | 1 | 1 | 0 | 0 | 1 | 1 |
Fees | 1 | 1 | 1 | 2 | 1 | 1 | 1 |
Exchange Rates | 1 | 1 | 5 | 1 | 1 | 1 | 1 |
Speed | 0 | 1 | 0 | 1 | 0 | 0 | 1 |
Limit | 2 | 1 | 1 | 2 | 1 | 1 | 1 |
Features | 1 | 2 | 2 | 2 | 2 | 2 | 1 |
Ease of Use | 0 | 0 | 3 | 3 | 1 | 0 | 0 |
Safety | 1 | 1 | 1 | 2 | 1 | 1 | 1 |
Customer Support | 1 | 2 | 0 | 1 | 0 | 1 | 1 |
Opening an account with Capital One
To open an account with Capital One, you will need the following information:
An ID: Your driver’s license, passport, or other government-issued ID card
SS or ITIN number: Social Security number or Individual Taxpayer Identification Number (ITIN)
Alternative payment method to make an initial deposit: A blank check, debit card, or credit card to make that first deposit
Once you have these ready, follow the steps below to open an account.
Sign Up
Follow the Application Steps
Review and Accept the Terms
Deposit Money
Making international transfers
When arranging a wire transfer with Capital One, you will need to provide the following:
Recipient’s full name (or business name)
Recipient’s address and contact number
Recipient’s account number
Recipient’s routing number (ABA)
The full name, bank address, SWIFT Bank Identifier Code (SWIFT BIC), and branch identifier of the recipient’s bank
An International Bank Account Number (IBAN) may be required
The amount you want to send
Capital One’s swift code is HIBKUS44
Sending international wire
To make an international wire transfer with Capital One, follow the steps below:
Contact your local branch
Visit your local branch
Provide the information
Confirm your transfer
Pay for your transfer
Use Wise to send money from your Capital One account
It may be simpler to fund your transfer with your Capital One account, but use a transfer provider like Wise to send your money overseas.
Register for a Wise account
Add the details of your transfer
Review the received amount
Send the money
Receive international transfers
To receive an international wire transfer to your Capital One account, you’ll need to provide the following information to the sender.
Your ABA, RTN, or SWIFT code
For domestic wire transfers, you’ll need to supply the Wire Routing Transit Number (your ABA or RTN): 031176110 (please double check in the app or online banking, under “View Details”).
For international wire transfers, you’ll need to supply your SWIFT code or BIC: HIBKUS44
The bank name and address
Depending on the type of transfer, the Capital One address is: 1680 Capital One Drive McLean, VA 22102-3491
Your account number, name, and address
You’ll need to supply your complete Capital One account number, the name on your account, and the complete address of your account as it appears on your bank account.
How Capital One compares to money transfer services
Generally, money transfer companies are much cheaper than any high street bank. Here’s a list of top alternatives to Capital One if you’re planning to make international transfers.
Fees & Rates9.4Transfer Speed9.0Safety & Trust9.2Product Offering8.8Transfer Limits9.5Ease of Use10.0Customer Feedback8.5Overall
Fees & Rates9.8Transfer Speed9.0Safety & Trust9.0Product Offering8.0Transfer Limits9.0Ease of Use9.0Customer Feedback8.4Overall
Fees & Rates9.3Transfer Speed9.0Safety & Trust9.0Product Offering8.0Transfer Limits9.0Ease of Use9.0Customer Feedback8.7Overall
Fees & Rates9.1Transfer Speed8.0Safety & Trust9.0Product Offering9.0Transfer Limits8.0Ease of Use9.0Customer Feedback9.0Overall
Fees & Rates9.4Transfer Speed8.0Safety & Trust8.5Product Offering8.8Transfer Limits9.5Ease of Use8.2Customer Feedback8.3Overall
Other Alternatives
Alternatively, consider using one of these neobanks for international transfers.
Capital One: Is it good for transfers abroad?
While Capital One is a great option for anyone looking for a new credit card (or travel credit card), it is evident they are not made for international transfers.
For those who rely on day-to-day banking, Capital One provides fantastic features such as My Savings Goals, credit score tracking, and mobile deposit for depositing checks in real-time.
However, the bank’s quality and international transfer services are not that great (even when compared to other high street banks).
The major downside is that you can only send money abroad through the branch, and still have to pay high fees.
If you need to make a transfer abroad, you can still use your Capital One account and link it to any money transfer provider.
This is the best of both worlds, you can use your bank and save a lot of money on fees (especially if making a large transfer).
Use our form below to find the best money transfer app for your needs, link your account, and send.
A bit more about Capital One
Can I open a Capital One account in any country?
Can I use a Capital One debit card when traveling abroad?
Help & FAQ
Get answers to the most common questions asked when sending money abroad. Covers costs, fees and the best way to compare.
More Banks
No doubt BofA is one of the more popular banks in the US, but it might not be your best option for sending money abroad.
Here’s a quick overview of Chase and how it compares to an average money transfer provider.
Here’s an overview of Wells Fargo’s international transfers, and how they compare to money transfer companies.
