Why Does Capital One Have So Many ABA Routing Numbers?

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Capital One Bank LogoWhat happens when banks buy banks? You get a mess of ABA routing numbers.

In a process that is years in the making, I’ve been consolidating more accounts I no longer need. This time, my Capital One Banking account is the one that is getting the ax. I opened the account years ago because of a Costco promotion that gave it a pretty good interest rate. When Capital One ended the relationship in the middle of 2012 and the interest bonus ended that calendar year, I decided I was going to close it. It’s March, I’m about three months behind schedule, but today I took the first step in cutting my ties – I added it as an external transfer to one of my other accounts.

There was a tricky piece though… Capital One has multiple routing numbers. This is common with these megabanks because they go on acquisition sprees and you end up with different ABA routing numbers depending on what legacy system you’re a part of. You see this often with brick and mortar banks like Bank of America – that’s why they ask what state you opened your account in.

Capital One, in theory, has only two listed:

  • Capital One Bank (USA), N.A.: 051405515
  • Capital One, N.A.: 056073502

In order to find out which one you’re using, you have to check your statements (or your checks but I don’t have any). It will say that your account is held at Capital One Bank or simply Capital One. And, just to make it more confusing, Capital One 360 uses ING Direct’s old ABA number – 031176110. Capital One 360 is a division of Capital One, N.A., but they have their own routing number. My savings account was an online one but it fell under Capital One Bank.

It’s very confusing but, on the plus side, this allows for “backward compatibility.”

{ 8 comments, please add your thoughts now! }

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8 Responses to “Why Does Capital One Have So Many ABA Routing Numbers?”

  1. I’m not surprised at all. Think of the nightmares when banks like Wells Fargo and Wachovia merged!

  2. BrianC says:

    Interesting…I always wondered why which state my account was opened in mattered (& that account has changed hands two times already).

  3. admiral58 says:

    I always wondered what happened when banks bought each other.

  4. Jennifer says:

    That makes sense. I would imagine the bank doesn’t want to affect it’s customers to much by the change so they don’t have the customers change routing numbers. If the routing numbers changed it would give a lot of customers some headaches if they have automatic withdrawl and deposits set up.

  5. elliott says:

    I also have a formerly-Costco Capital One account that I haven’t transferred yet.

    Did you open a new account to replace Capital One? Or are you just moving the $$$ back into otherwise existing accounts?

  6. Nancy says:

    Just wondering what you think of the newly revised and renamed ‘Simplicity Bank’? The interest rates aren’t very good…but I too am looking to switch from ING, which I loved, to anything not associated with Capital One…

  7. Shafi says:

    I personally don’t go any kind of promotional material whether from banks or other institutions. I bank locally and use their credit card.

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