This was posted 5 years 4 months 23 days ago, and might be an out-dated deal.

Related
  • expired

Westpac Balance Transfer Offer 0% Interest for 16 Months (2% BT Fee) or 24 Months Interest Fee

190
Westpac Balance Transfer Offer 0% Interest for 16 Months (2% BT Fee) or 24 Months Interest Fee
Go to Deal
LWillious on 11/06/2020 - 09:31 westpac.com.au (270 clicks)
Last edited 11/06/2020 - 18:17 by 1 other user
WAALBGMB24

I recently decided to do a balance transfer from my Westpac credit card to another card. I called them and they said the only offer available to me was the offer they currently had available, which is on their website (6.99% p/a for 12 months using the code REF12). I said I would think about it, so I went looking for a better deal.

Well, an old code from 2018 from OzBargain seemed to work, WAALB, which is 0% interest for 16 months with a 2% balance transfer fee.

Pretty much, you login to your credit card account, go to SERVICE > SERVICES > BALANCE TRANSFER and put the promo code in the promo code field when filling in your details. If you have applied for the covid-19 financial assistance where Westpac gives you 0% interest for 3 months, you will need to call to remove that or wait for that 3 months to finish as Westpac say they won't do a balance transfer if someone has that on their account. For me, the balance transfer worked overnight (though I am still waiting for the money to appear in my either card, it has been taken from the Westpac card).

So, if 6.99% isn't good enough, and I don't think it is when you can get 0%, then give it a try if you are needing to do a balance transfer.

(Note: I have updated the code to include a 24month 0% code mentioned in the comments because it is better, really).

MOD: Westpac stated that the offer is only meant for selected customers, and is no longer working. Marked as expired.

Financial Credit Card

Related Stores

Westpac
Westpac

closed Comments

Search through all the comments in this post.
  • LoCure on 11/06/2020 - 09:39

    NO related to the deal, balance xfer does not gain any reward/FF point on the receiving account right?

    • Willious on 11/06/2020 - 09:50

      Actually, the link is related to the "deal" they say they are offering you which is the 6.99% BT for 12 months.
      Because the code is very old it isn't on their website. I don't believe you get any points etc.

  • Floydthebarber on 11/06/2020 - 09:42
    +1

    I found an old Westpac letter with the code GMB24 that was supposedly expired.
    I think it was for 0% for 24 months and 2% fee.
    But it worked for me and was approved.

    If someone wanted to give it a go and see if it works for them?

    • Willious on 11/06/2020 - 09:52

      That code would work too as I can see when I input it:

      "The following offer has been applied:
      0% BT for 24 mths 2% BT Fee Rolloff to Cash"

      So it looks like your code is even better in terms of the time. Thanks for sharing.

      • hassanjv on 11/06/2020 - 13:21

        Any specific card type?

    • hassanjv on 11/06/2020 - 13:22

      Any specific credit card or is this code applicable to any credit card?

  • Uncleroger on 11/06/2020 - 09:50

    Just to be clear OP you are balance transferring westpac cc to westpac cc?

    • Willious on 11/06/2020 - 09:53

      No. Banks tend not to transfer lower percentages to themselves and cannibalise their own profits.
      The balance transfer is from Westpac to another bank's credit card.

      • isthatallyougot on 11/06/2020 - 10:03

        i think im confused here. Why would Westpac offer a deal to move money out of their accounts to another bank's credit card ? Shouldnt you be initating the balance transfer request from the other bank's site rather than westpac ?

        Are you transferring your balance to westpac from the other bank ?

        • Willious on 11/06/2020 - 10:05
          +2

          I'm not sure what you mean. If you have a fully paid off Westpad credit card and it has a $10,000 limit, then you can transfer 80% of that amount to another card. So, if you have an ANZ card that you are paying 20% interest on, Westpac will transfer up to $8,000 to that card. So, the ANZ card you will owe $8,000 less, and the Westpac card you will now owe $8,000 at 0% interest.

          • isthatallyougot on 11/06/2020 - 10:08

            @Willious: Oh . I didnt know you could actually do that. Thanks mate.

            • Willious on 11/06/2020 - 10:11
              +7

              @isthatallyougot: And… if on your ANZ cc you didn't owe anything on… and you did the BT from Westpac to ANZ… well, you would have that $8,000 sitting positive in your ANZ card with zero percent interest… essentially a 0% loan (except the 2% fee). If you then closed that ANZ card, you would get a cheque for the positive amount in your account. Or you could buy a car at 0% interest using your ANZ card because you'd be using the surplus money on your credit card.

  • JuryWheel on 11/06/2020 - 10:20
    +2

    bring back these deals with no BT fee!

    • Willious on 11/06/2020 - 10:20

      yeah that would be good. but, still the deal will save folks money. If you owed $10,000 … at 20% interest that's $2000 in interest a year.
      With the 2% fee… the cost is $200.

      • JuryWheel on 11/06/2020 - 10:57

        yeah, great for people with huge ccard debt, but no good for everyone else

        • Willious on 11/06/2020 - 11:04

          It is what it is.

  • bausie on 11/06/2020 - 10:45

    2% fee vs 2.25% mortgage… Doesn't work out to be worthwhile anymore for headache of remembering dates to do transfers…

    • adam on 11/06/2020 - 11:55

      2% fee for 2 years interest free is 1%/year compared to your 2.25% mortgage.

  • Bob81 on 11/06/2020 - 11:54

    The best deal is not to get to the point of needing a balance transfer in the first place.

    • mickmac on 11/06/2020 - 13:52

      I disagree, they have other uses if you're savvy enough. Regularly used a balance transfer to a citibank credit card, pulled out the positive balance and put it in my offset account for 12-24 months depending on the offer term. Saved me a bit in interest off my home loan over the years.

      The balance transfer fee ruins it though, for this offer anyway.

  • evo7 on 11/06/2020 - 13:17
    -1

    Wow thanks OP, you save my life. Time to shopping again ✌️

    • A b on 11/07/2020 - 12:57

      What's the code for existing hsbc customers to do the balance transfer

  • Moderatorscotty on 11/06/2020 - 17:57

    Received an email from Westpac, stating that:

    We noticed this promo code has been mentioned on the site below.

    This code was only meant for select customers and will be removed by tomorrow.

    Expiry changed to 12/6/2020 Westpac has already expired the code.

  • Turd on 11/06/2020 - 19:00
    +2

    Damm shouldnt have told the world! Now missed out!

  • burningrage on 16/06/2020 - 18:54
    +1

    This shouldn't be in this Deal. If anybody needs a code, best to do it through forum and then PM.

    Now we alerted the hordes and the fun is over.

    • DaHuntz on 18/06/2020 - 18:06
      +1

      Great, Westpac has now pulled this offer. :( This shouldn't be publicized T___T I've been using this code in the past and now no more code to use when I need it.

Login or Join to leave a comment
Login Join