This was posted 4 years 5 months 15 days ago, and might be an out-dated deal.

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

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Westpac Balance Transfer Offer 0% Interest for 16 Months (2% BT Fee) or 24 Months Interest Fee
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LWillious on 11/06/2020 - 09:31 westpac.com.au (237 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.

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  • 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.

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