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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 more credit cards or store cards to a new or existing credit card.

Balance transfers may allow cardholders to access a lower interest rate or take advantage of an interest free period offer.

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.

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

Save credit card interest
when you make the minimum monthly repayment. Use our balance transfer calculator to see how much you can save

Make the most of an interest free period
to help you focus on repayments and pay your balance down sooner


What to expect

Transferring to a new card?

  • Apply online in 10 minutes, get a response in 60 seconds.
  • Consolidate up to 3 non-Westpac Australian issued credit, charge or store cards.
  • Transfer up to 95% of the limit available on the Westpac card you’re transferring to.
  • See product pages for ‘Special Offers’.

 

Transferring to an existing card?

  • Request a balance transfer online at any time in 5 minutes, get a response in 60 seconds. Use promotional code WABM4.
  • Consolidate up to 2 non-Westpac Australian issued credit, charge or store cards.
  • Transfer up to 95% of the limit available on the Westpac card you’re transferring to.
  • Take advantage of our 2.99% p.a. offer on balance transfers for 12 months when requested at application. After the promotional period, the balance transfer rate switches to the standard variable purchase rate.1
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 www.westpac.com.au. Switches, upgrades or customers accessing employee benefits are ineligible.

1If you’re transferring to an existing Westpac credit card, the promotional 2.99% p.a. rate for 12 months is available at any time when you transfer up to 2 non-Westpac Australian issued credit, charge or store cards to an existing Westpac credit card. The rate will apply to balance(s) transferred (min $200 up to 95% of your approved available credit limit) for 12  months, unless the amount is paid off earlier. The variable purchase rate will apply to balance(s) transferred but left unpaid at the end of the promotional period. Interest free days do not apply to credit cards with balance transfers.