Balance Transfer

Whether it’s an outstanding balance on hire purchases, store cards, another bank’s credit card or a personal loan, you’ll only pay 5.95% p.a. for the life of the balance(s) transferred^.

How it works

A Westpac balance transfer may help you consolidate debt. You can bring outstanding balances on hire purchases, store cards, another bank's credit card or a personal loan to your Westpac credit card to help you to manage your money.

How payments will be applied
Payments you make will first go to charges and interest accrued, then to the balance transferred, followed by cash advances and purchases. This means any purchases you make won’t start being be paid off until your balance transfer amount has been paid in full.

payment calculator

Work out a payment plan

Use the repayments calculator to work out a payment plan for your balance transfer and see what's manageable for you each month.

By clicking on this link, you will be redirected to a calculator hosted on the Sorted website. Westpac NZ and Sorted are not associated companies, and Westpac NZ does not endorse the accuracy of this calculator. You will be governed by Sorted’s Terms & Conditions when using this calculator.

How to apply

 Applying for a balance transfer is easy, first you'll need a Westpac credit card. Balance transfers are available on Westpac credit cards^ - including our Low Rate, Airpoints™ and hotpoints® credit cards.

  • Already have a Westpac credit card?

    Apply for a balance transfer via Westpac One® or print and complete our balance transfer form.

    Apply for a Balance Transfer
  • Don't have a Westpac credit card?

    If you're already a Westpac customer, apply for a credit card in Westpac One®. If you're new to Westpac, you can apply for a credit card online below.

    Apply for a Westpac credit card

     

More about Balance Transfers

We’ll arrange with the provider your balance is being transferred from to move it to your Westpac credit card. This can take up to 10 days to complete. We’ll also send you a letter once your balance transfer has been completed, confirming the details of your transfer.

Remember, if there were any charges or transactions made to your old card after your balance transfer – for example subscriptions, automatic payments or delayed transactions – then you may still have a balance owing. If you wish to close your other card you’ll need to arrange this, as well as take care of any outstanding or upcoming payments there may be on it. You’ll also need to pay any interest charges that are still on that account.

Payments you make will first go to charges and interest accrued, then to the balance transferred, followed by cash advances and purchases.

At the end of the balance transfer period, any outstanding balance will move to the standard interest rate as outlined in your card’s Conditions of Use.

There’s lots of easy ways for you to pay your credit card each month – automatic payments, bill payments and direct debit. If you haven’t already, register for Westpac One online banking so you can easily manage your credit card on any device, at any time. 

A balance can be transferred to any Westpac credit card except for a Westpac Mastercard® BusinessCard/Purchasing Card.

If you want to consolidate your debt with a structured repayment plan and a fixed end date for paying it off, then a personal loan may be more suitable for you.