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Balance transfer.

You could pay off your debt faster when you transfer a balance held elsewhere to a Westpac credit card, paying only 5.95% p.a. for the life of the balance transferred¹.

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Benefits.

  • Consolidate multiple debts into one, easy to manage, monthly payment.
  • Apply to transfer up to 95% of the available credit limit on your Westpac credit card.
  • Pay only 5.95% p.a. on the balance(s) transferred for the life of the balance(s) transferred¹.

  See all rates and fees that may apply. 

How balance transfer works.

You can apply to transfer a balance(s) from

  • Store card
  • Hire purchase
  • Personal loan from another financial provider
  • Credit card from another financial provider.

You can’t transfer a balance from a Westpac card or loan.

How payments will be applied

We apply repayments on your credit card balance in a certain order:

  1. All charges, either shown on the current statement or any previous statements, or charged since your current statement. 
  2. All interest, shown on the current statement or any previous statement. 
  3. All cash advances shown on the current statement, or any previous statement.
  4. All purchases shown on the current statement, or any previous statement.
  5. Any balances transferred from accounts at other institutions shown on the current statement or any previous statement. Should your account contain multiple balance transfers, the balance transfer with the highest interest rate will be paid off first. 
  6. All cash advances made since the current statement. 
  7. All purchases made since the current statement.
  8. All balance transfers from accounts at other institutions made since the current statement.

This means that payments will be applied to your balance transfer amount after charges or interest that appeared on your current statement, previous statement, or charged since your current statement, have been paid in full. 

How interest will be applied 

  • Interest is calculated on a daily basis on all purchases, cash advances, balances transferred, fees and charges. Interest on cash advances and balance transfers is accumulated from the day the transactions are made. All new purchases, cash advances and any unpaid interest or fees will incur interest at the standard interest rate.
  • If you pay your statement closing balance in full on or before the pay by date, you will not be charged interest on the purchases listed in that statement.
  • If you have a balance transfer, you will not be charged interest on the purchases listed in that statement if you pay the statement closing balance, excluding the balance transfer amount, on or before the pay by date. Otherwise, you will be charged interest on the daily balance of each purchase in that statement, from the date of purchase until payment of that purchase is made in full.
  • Your credit card statement will show you the total amount owing on your account, as well as the minimum payment due.

Note: If you only make the minimum payment each month, you will pay more interest and it will take you longer to pay off the unpaid balance.  

Calculate your payments.

Find out how much you could be paying in interest on your current balance before, versus after, a balance transfer to a Westpac credit card by using the Sorted.co.nz calculator².
Calculate now

Extra help.

More helpful guides

FAQs.

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Things you should know.

1. Rate will apply to balance(s) transferred until that balance(s) is paid off.  All applications are subject to Westpac approval. You cannot transfer a balance from a Westpac card or loan. All new purchases, cash advances and any unpaid interest or fees will incur interest at the standard interest rate in accordance with the card's Conditions of Use. You can transfer up to 95% of your available credit card limit. Your card must remain within its credit limit after the balance has been transferred. Balances cannot be transferred to a Mastercard® BusinessCard/Purchasing Card. Balance transfers do not earn Airpoints Dollars™ or hotpoints®. 

2. 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.

If you only make the minimum payment each month, you will pay more interest and it will take you longer to pay off the unpaid balance.  

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Terms and conditions

Eligibility criteria, lending criteria, terms and conditions apply. See:

 View terms and conditions for all our credit card products here.