Balance Transfer

Whether it’s an outstanding balance(s) on hire purchases, store cards, another bank’s credit card or 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 go to the balances as they are stated on your most recent statement and first go to charges and interest accrued, then to cash advances and purchases, followed by the balance transfers. After the balances on your most recent statement have been repaid, any payments you make will then be applied to transactions that have not yet appeared on a statement. This means any balance transfer amount won't start being paid off until any cash advances or purchases listed on your current statement have been paid in full.

How interest will be applied
Your credit card statement will show you the total amount owing on your account, as well as the minimum payment due. 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. Interest on purchases is accumulated daily, but only charged if the outstanding balance on your current statement, excluding the balance transfer amount, has not been repaid by the pay by date.


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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. Balance transfers are available on Westpac credit cards^ - including our Low Rate, Airpoints™ and hotpoints® credit cards.

  • Already an existing customer with Westpac One?

    Apply for a balance transfer to an existing card, or apply for a new credit card with a balance transfer via Westpac One®.

    Apply in Westpac One
  • New to Westpac, or don’t have Westpac One?

    If you're new to Westpac, you can apply for a credit card online below. If you’re an existing customer who doesn’t use Westpac One® print and complete our balance transfer form.

    Apply for a balance transfer


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 cash advances and purchases, followed by balance transfers.

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.