Getting a virtual bank account with routing number is not a tricky job to find. For the advancement of finance, everything is easy as pie. Now you can do financial things on the mobile app, no traffic jams in the Bank because we have traffic-free ATMs. Anytime, anywhere we can access it. But for Virtual Bank you don’t even go for ATM withdrawal. You can use your funds virtually for shopping. It seems everything is handy, simple, and accurate.
What is Virtual Bank?
A Virtual Bank is a type of bank that runs with electronic channels. There is no physical space for this bank but all the banking services you can get from it. Banking services are performed online, so you can’t expect a local branch from Virtual Bank as a physical bank has. Users can easily open an account, make a deposit and perform all types of transactions via web address or through a mobile app. It saves a huge amount of time and you don’t need to visit a bank.
Benefits of Virtual Banks
- Convenient: All Banking services can be performed online; banking services can be accessed anytime, anywhere
- No Minimum Threshold: With no requirements in terms of minimum account balance or fees, customers can open an account regardless of their financial circumstances
- Connectivity: Conventional banks and electronic wallets are connected via FPS to facilitate instant cross-platform transfers
- Protected: Just like a conventional bank client, a virtual bank customer is entitled to deposit protection of up to $500 (it may vary bank by bank).
- Regulated: Virtual banks are licensed banks regulated by HKMA, just like conventional banks
- New Experience: Fintech is widely employed to offer clients a new kind of banking experience
What is a Routing Number?
A routing number is a 9-digit bank identifying number seen on paper checks. This numerical address allows a bank to transfer, send, and receive money anywhere. It notifies financial institutions for payment and indicates it’s the right address where funds go.
The American Bank Association introduced this number in 1910 to make transactions faster and easier. Routing numbers can also be referred to as Routing Transit Numbers or ABA Routing Numbers. Each bank has one unique routing number to avoid miscommunication and misleading in money transfers. Even if two banks have the same name, the routing numbers are different from each other.
Note: Some of the Big Banks like Chase Bank and Bank of America have two routing numbers in some cities.
List of Virtual Bank Accounts With Routing Number
Payoneer is a payment system that allows customers to make the online transaction easier. Customers can send requests for payment or create invoices to collect funds from a bank account or credit card. As a payment method, Payoneer is more accessible than PayPal, Venmo, Square, or Stripe.
It is a popular option for freelancers and international sellers. It has a Global Payment Feature that can handle all types of local and international payments and currency exchange. You can receive payment in 150 different currencies. Payoneer already integrates with giant marketplaces like Upwork, Amazon, Airbnb, Walmart, Fiverr, and eBay.
So, workers/sellers can easily transfer payments to the Payoneer account. Payoneer account holders have the option to order a MasterCard debit to make payments more manageable. There’s a threshold to complete a total of $100 transaction. To create an account, follow my links to get a $25 sign-up BONUS.
How to Get a Routing Number on Payoneer
Payoneer provides 9 digits or a Routing Number. You will get the routing number with the following.
- Log in to the Payoneer account
- Under the Receive Menu, go to Global Payment Service
- On the Global Payment Service page, you will get the Payoneer Routing number and other necessary details
Payoneer Fees Chart
|Receiving Cost||1% via ACH and 3% via Credit Card|
|Sending Cost||1% via ACH, 2% via bank, and 3% via Credit Card|
|Debit Card||Mastercard ($29.95/yr)|
|International Payments||Accept 150 local currencies and 200 countries|
|Taxes||Agreement with IRS|
|Mass Payments||Automated batch-payment up to 200|
|Business Capital||With Amazon and Walmart, Merchant cash advance up to $750000|
- Month-to-month billing with no early termination fee
- Best for freelancers and international businesses
- Multicurrency supported
- Wide presence in 200 countries
- Free payments between Payoneer accounts
- High card transaction fees
- $29.95 annual inactivity fee
2. Wise (Formerly Transferwise)
Financial service Transferwise is a Virtual bank that offers a super-easy way to transfer money between the US to other 80 countries. The one thing I was impressed with in Wise is the exchange rates. No doubt, it provides the best exchange rates so far. You can transfer money using Wise in various ways such as credit card or bank account. The Wise official website is simple and easy to navigate. You will see a cost calculator on the Wise homepage, that sees fees and exchange rates. Surprisingly, Wise has a routing number. If you are looking for a routing number on Wise, you can get it here.
Wise Routing Numbers for Wire Transfers
|Type of wire transfer||Wise routing number|
|Domestic Wire Transfer||026073008|
|International Wire Transfer to Wise account in the USA||026073008|
|SWIFT Code for non-licensed states||CMFGUS33|
Wise Transfer Fees
|Your Transfer||Wise Fee|
|GBP to USD||0.4% + £0.80 flat transaction fee|
|USD to INR||0.65% + $1.00 flat transaction fee|
|DKK to EUR||0.35% + KR 4 flat transaction fee|
- Delivery within minutes
- Low fees
- No rate Markups
- Slower bank transfer delivery times than other providers
- US phone support is limited
N26 is a German online mobile banking platform that offers a checking account for users. To avoid outrageous bank charges, you should consider N26 as a payment method. For European people, N26 is a great way to transfer money with others. It is even more accessible and comfortable because N26 is free. No withdrawal fees, no monthly fees, no credit card fees. Free! It is available for both personal and business. It offers an easy way to save money, transfer money, split bills and set up direct bills. Since N26 offers Virtual Card, you can safely shop online.
How to Get a Routing Number on N26
Just provide the N26’s routing number: 122287675 to the payee, if necessary.
N26 Fees Chart
|Account opening fee||$0|
|ATM withdrawals with Allpoint||Unlimited & free|
|ATM withdrawals Allpoint’s network||$2 + 2%⁷|
|Foreign transaction fees||None|
- European Licensed with €100,000 EUR protection
- Free and Paid, almost 4 options for signing up
- MasterCard debit cards access
- Free ATM withdrawal
- No monthly fee
- Virtual Cards for safe online shopping
- No multi-currency account
- Only available in Europe
- Credit cards not available
Revolut is a digital bank that started its journey as a travel card in 2015. Now it turns into a bank. It is the fastest digital bank with lots of features such as savings, cryptocurrency investing, travel perks, cash back rewards, etc. Customers can access directly deposited funds. If you enter Revolut’s free plan, it offers no cost in ATM withdrawals for $1200/mo. Revolut users can access 55000 fee-free ATMs worldwide. Revolut is a great choice for those who want to manage their finances. Additionally, a great fit for international travelers because it provides multiple travel perks to users. Though there is some lack of opportunity, users may notice. I Hope Revolut will gradually open up for opportunities.
How to Get a Routing Number on Revolut
To get a routing number from Revolut Account. Follow the procedure below.
- Go to Home Screen
- Go to Account Tab
- Select USD
- Tap on US flag to see Account Details
- You will see here Account information with Routing Number
Revolut Transfer Fees Chart
|Multi Currency Account||Yes|
|ATM withdrawal fees (for Standard Account)||€/£200 /month free, 2% after|
|International transfer fee||Free (Excluding SWIFT)|
|International transfer exchange fee||0.5-2.0% on weekends€6,000/£5,000 /month freeAdditional 0.5% after|
- Easy to open an account
- Multiple helpful digital services in the free plan
- Debit card access for easier spending
- Transferring money is fast, accurate, and simple
- Need to top up in N26 account if haven’t sufficient balance
- No option to add money to account with cash or cheque
- Only local currency pounds and euros available now
5. Axos Bank (Formerly Bank of Internet USA)
Axos Bank is an online bank that doesn’t agree to charge unwanted fees on the transactions and offers a variety of rewards. Axos Bank is an online-only bank, so there are no in-person customer service options. You can get service from Axos Bank 24/7. For savings and checking accounts, Axos Bank is a great choice. Customers also get benefits from unlimited ATM fee reimbursements. Overall a good virtual bank account with routing number, you should deal with.
How to Get a Routing Number on Axos Bank
Axos Bank ABA/Routing Transit Number — 122287251
Fees Quick Report
- Fewer Monthly Fees: No monthly fee with Savings and Checking accounts. No overdraft fees for non-sufficient funds that are only applicable for Essential, Rewards, First, and Golden checking.
- No monthly maintenance fees
- No setup fees
- Excellent checking rates and rewards
- No monthly fees for checking or savings
- Domestic ATM fee reimbursements
- No branches
- CD rates are low for an online bank
Bunq is one of the most innovative mobile banks. Users can create 25 sub-accounts, and get 3 physical cards and 5 Virtual debit MasterCards. It allows customers to transfer money anywhere in the world with Wise. Without charging hidden fees, customers can transfer money to 39 countries. The exchange rate is surprisingly good. Bunq cards are easily linkable with Apple Pay, and Google Pay to make instant transfers. By using the Bunq in-app card control feature, users can enable foreign payments, set CVC codes, block or unblock cards and create new virtual cards.
How to Get a Routing Number on Axos Bank,
Unfortunately, Bunq doesn’t provide virtual bank accounts with routing numbers. You need to use the SWIFT code in order to transfer money.
Fees of Bunq Banking Service
- Deposit: 1.5% of the deposited amount
- MasterCard: €9.99 per card + €3.49 p/m per card
- Cash withdrawal (€): free – €2.99/withdrawal
- Bunq has 3 types of accounts: Personal, Joint, and Business
- No fees if you spend in Europe
- Free ATM withdrawals worldwide
- Partnered with Wise
- 30 days free trial
- Available for permanent residents
- Only support Euros
- Can’t transfer money abroad with free accounts
We just completed the topic about Virtual Bank account with routing number. Apart from these, there are many more surprising things waiting for you. Follow our AllFinanceDeals to get more updates.
With over 3 years of financial experience, Hannah Edwards is the senior writer for All Finance Deals. She recommends research-based financial information about Transfer Money, Gift Cards and Banking. Hannah also completed graduation in Accounting from Harvard University.