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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 or existing 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 an existing card?
  • Consolidate up to 2 non-Westpac Australian issued credit, charge or store cards.
  • Transfer up to 80% of the limit available on your Westpac card (minimum transfer of $200).
What's involved in the balance transfer process?
  • Request a balance transfer online in 5 minutes, get a response in 60 seconds.
  • Remember to use the promotional code REF12 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 in your application.


Note: 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 rate
  • Take advantage of our 6.99% p.a. offer on balance transfers for 12 months1 (use the promotional code REF12).
  • After 12 months, any remaining balance transfer amount will accrue interest at the variable cash advance rate of the card.
Things you should know

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.


1If you’re transferring to an existing Westpac credit card, the promotional 6.99% p.a. rate for 12 months is available when you transfer up to 2 non-Westpac Australian issued credit, charge or store cards to an existing Westpac credit card. The promotional rate will apply to balance(s) transferred (min $200 up to 80% of your approved available credit limit) for 12 months, unless the amount is paid off earlier. The variable cash advance rate will apply to any unpaid balance transfer amount remaining at the end of the promotional period.  If your account has an interest free period for purchases, to be entitled to that interest free period, you need to pay off the “monthly payment balance” listed on your statement of account (not the full closing balance) by the relevant payment due date.