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What is a balance transfer and who's eligible?

It’s simple – a balance transfer means moving the balance from one or multiple credit or store cards to one credit card making it easier to manage. Balance transfers may allow cardholders to access a discounted interest rate for a set number of months.

You could be eligible for a Westpac balance transfer if you are transferring the balance from a non-Westpac card to a new Westpac card.

What are the benefits?

Streamline credit card management
to one statement and monthly repayment to avoid paying multiple rates and fees, provided you close your previous cards

Save on credit card interest
by transferring your balances at a special rate.

Stay on track with a repayment plan
by using a SmartPlan to help you pay your balance down within the promotional period

How does it work?

What can you do with a balance transfer to a new Westpac credit card?

  • Consolidate up to 3 non-Westpac Australian issued credit, charge or store cards.
  • Transfer up to 80% of the credit limit available on the Westpac card you’re transferring to (minimum transfer of $200).

What's involved in the balance transfer process?

  • Apply online in 10 minutes, get a response in 60 seconds.
  • In your application, include the account numbers of the credit cards you would like to transfer, the providers' biller codes and the amounts you'd like to transfer.
  • Activate your card. Any approved balance transfers will occur once your card is active.

 Westpac will not cancel your other cards. If your aim is to pay down your balances, it may be helpful to cancel your old cards once the balance transfer is complete so you don't use them to accrue more debt. You can usually ask to cancel a card account over the phone, provided the card has been paid off.

Special balance transfer rates

See our current balance transfer offer.

Things you should know

New simplified Credit Card Terms and Conditions will take effect from 2nd November 2020. See notice of changes (PDF 23KB) for more details.

Fees, charges and credit criteria apply. Read the terms and conditions available at request before making a decision. Offers are not available in conjunction with any special offers that are not listed on Switches, upgrades or customers accessing employee benefits are ineligible.