South Dakota made history in 1980 when it eliminated its usury laws, triggering Citibank to relocate its entire credit card operations to Sioux Falls — a move that transformed a sleepy Midwestern city into one of the most consequential banking addresses in the United States.
Today, Sioux Falls processes more credit card transactions per capita than virtually any other city in the world, hosting major operations for Citibank, Wells Fargo Card Services, Capital One, and First PREMIER Bank. First PREMIER Bank specializes in credit cards for customers with damaged credit — an unusual niche that has made Sioux Falls a surprising power center in consumer credit. Like Delaware, South Dakota's bank-friendly laws continue to attract financial services companies.
National Banks in South Dakota
These banks use South Dakota-specific ACH routing numbers for accounts opened in South Dakota.
| Bank | ACH Routing # | Wire Routing # | Notes | Verify |
|---|---|---|---|---|
| Capital One | 051405515 | 056073502 | Capital One uses a single routing number for all states. | Verify |
| Ally Bank | 124003116 | 124003116 | Ally is online-only and uses the same routing number for all states. | Verify |
| Charles Schwab Bank | 121202211 | 121202211 | Schwab Bank uses a single routing number nationwide. | Verify |
ACH vs. Wire: Which Number Do You Need?
| Transfer Type | Which Routing # | Speed | Cost |
|---|---|---|---|
| Direct Deposit | ACH Routing # | 1–3 days | Free |
| Wire Transfer | Wire Routing # | Same day | $15–$50 |
| Bill Pay | ACH Routing # | 1–5 days | Free |
Regional Banks in South Dakota
Headquartered or major operations in South Dakota. Typically one routing number statewide.
First PREMIER Bank
SiteSioux Falls, SD bank specializing in credit-builder credit cards.
Dacotah Bank
SiteAberdeen, SD community bank serving northern South Dakota and rural communities.
Citibank (SD charter)
SiteLegal charter in Sioux Falls since 1981. National online/credit card bank.
South Dakota Credit Unions
Citibank's 1981 move to Sioux Falls, spurred by South Dakota eliminating usury laws, is credited with saving Citibank's consumer credit business and transforming the credit card industry in the United States.
Black Hills Federal Credit Union
SiteRapid City CU serving western South Dakota / Black Hills region.
Sioux Falls Federal Credit Union
SiteSioux Falls CU open to Minnehaha and Lincoln County residents.
Wellmark Federal CU
SiteSioux Falls CU originally for Wellmark Blue Cross Blue Shield employees.
FAQ — South Dakota Routing Numbers
Citibank relocated its credit card division to Sioux Falls, South Dakota in 1981 after South Dakota eliminated its usury laws (caps on interest rates). At the time, Citibank was struggling with inflation and the limits on what it could charge credit card customers in New York. South Dakota's legal invitation allowed Citibank to charge competitive interest rates. The move saved Citibank's consumer credit business and triggered dozens of other banks to establish South Dakota charters.
First PREMIER Bank is headquartered in Sioux Falls, SD and specializes in issuing credit cards to consumers with low credit scores or limited credit history. Like Citibank, it benefits from South Dakota's favorable banking laws. First PREMIER is one of the 10 largest credit card issuers in the United States by accounts. Their routing number is 091408501.
Wells Fargo uses 091400046 for South Dakota ACH accounts — the same number used for North Dakota. This Upper Midwest/Plains routing number reflects the Norwest Corporation's strong Dakotas presence before the 1998 merger. Wire transfers use Wells Fargo's national number: 121000248.
Yes — Black Hills Federal Credit Union is open to residents throughout the Black Hills and western South Dakota region, including Rapid City, Spearfish, Sturgis, and surrounding communities. With over $1.5 billion in assets, BHFCU is one of the largest credit unions in South Dakota. Their routing number is 291471618.
A routing number is a 9-digit ABA code identifying a financial institution. National banks maintain state-specific routing numbers inherited from regional bank acquisitions to avoid disrupting millions of existing direct deposit setups.