Capital One Wire Transfer: Fee and Exchange Rate


 

If you’re a Capital One customer, and need to send a payment to someone, the options available to you will depend on your account type. In most cases sending a payment locally within the US will be no problem - although you may need to pay a fee. International wires are a little trickier. The service is not available to all account types, and even if you have an eligible account you’ll need to head to a branch to get started.

This guide walks through how to send a wire transfer with Capital One. We’ll also highlight a smart way to send international payments with TransferWise. Check out the cross border payment solutions available from TransferWise if your Capital One account isn’t eligible for international services, or if you simply want to find a convenient, low-cost way to get money to someone overseas without needing to visit a bank in person.

Capital One wire transfer fee

If you’re sending a payment with Capital One, your options - and the fees you pay - will vary according to the type of account you hold. Domestic wire payments can be made online, in branch or by phone, depending on your account type. 

International wires can only be made in a branch - and are not available to all account types. Check the terms for your specific account before you get started.

Here are the fees for domestic wires by account type:

Account typeSend optionsDomestic wire fees
Essential CheckingHigh-Yield CheckingEssential SavingsIn branchBy phoneUSD25
360 Checking360 Savings360 Money MarketPerformance SavingsTotal Control CheckingConfidence SavingsSavings NowSimply CheckingOnlineBy phoneUSD30

Capital One local transfer fee

Local wire transfers can be made to US dollar denominated bank accounts within the US. You’ll be able to arrange a payment over the phone by calling the Capital One customer service centre, and depending on your account type you may be able to also set payments up online or in person by visiting a branch.

An alternative option to send payments to friends and family is to use Capital One’s partnership with Zelle. You can send money with just your recipient’s phone number or email address, and they’ll usually receive the payment within minutes if they already have an active Zelle account.

Capital One international wire transfer fee

International wire payments with Capital One are usually only available if you have an Essentials checking or savings account.

You can’t arrange a Capital One international wire transfer without visiting a branch location in person. When you set up your payment you’ll be told the fees and exchange rate which will apply to your transfer. Fees may vary according to the account type you hold - and it’s good to also know that there might be an extra cost added to the exchange rate used. More on that below.

Capital One currency exchange rate

You’ll be able to see the exchange rate Capital One will apply to your international wire when you visit a local branch to set up your payment. 

It’s well worth checking the rate on offer against the mid-market exchange rate which you can find on Google. The mid-market exchange rate is the one the bank will have been given when they bought foreign currency originally. But it’s not often the rate made available to retail customers. Instead, banks and currency services often add a markup to the rate they use for international wires - an extra fee. This can make it harder to see what you’re really paying for your international transfer - and push up the costs overall.

Sending money overseas? TransferWise uses the mid-market rate to wire money abroad

For a simpler way to send an international payment use TransferWise to save time as well as money.

TransferWise international payments are arranged online which means no need to make an appointment, or stand in line in a branch. Payments are fast and secure, and there’s always help on hand if you need it - just call the customer care team for support and answers to any questions you might have.

You can send money all over the world, 24/7, using the mid-market exchange rate with no markup and no hidden fees. You’ll only ever pay a simple transparent charge per transaction, which can work out cheaper than regular banks. Take a look at TransferWise to see how the costs compare.

How to make an international wire transfer with Capital One?

Capital One offers international payment services to Capital One Essentials Checking, Essentials High-Yield, and Essentials Saving account holders.

To make a payment you’ll need to head over to your local Capital One branch - get the address for your nearest branch online using the Capital One location finder.

How long does a wire transfer with Capital One take?

Domestic transfers sent before 2pm ET on a normal business day will arrive the same day. After this time or on weekends and holidays, payments will arrive on the next working day.

International transfers tend to take a little longer to arrive. The exact time it will take for your money to be delivered will depend on the destination country and payment type - expect a wait of up to 3 - 5 days on average.

Capital One wire transfer information

To send a payment you may need to link your account with the recipient account in advance. This will involve making small test payments to confirm the account, which you’ll need to then enter into the Capital One online banking system for verification.

For all payments, even when the account is already linked, you’ll need to provide the bank with the following information:

  • Recipient’s name
  • Recipient’s bank details including account and routing number
  • SWIFT details for international payments

You’ll also need your phone for 2-step verification of the payment.

How to receive a wire transfer with Capital One?

Give the sender your account number, routing number and the Capital One SWIFT code to make sure your payment can be safely directed to your account. Then you can just wait until the payment is processed and arrives in your account.

Capital One incoming wire fee

Incoming wire payments are fee free for most accounts. There is a USD15 charge for wire payments arriving in Essential Checking, High-Yield Checking and Essential Savings accounts.

Whether you can make wire payments with Capital One will depend on the account type you have. You’ll also likely need to pay a fee for the service, including potential exchange rate markups for international transfers. 

Compare the costs and convenience of making international payments with Capital One against the options available from TransferWise. You can set up a TransferWise international transfer online, for a low fee, using the real exchange rate with no markup. That might be cheaper - and quicker - than using your regular bank.