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What is a balance transfer?

A balance transfer is when the outstanding balance from up to 3 other credit, charge or Australian store cards is put on to your Bank of Melbourne credit card. Benefits can include:
Saving money on interest payments
If you’re taking advantage of a promotional balance transfer rate to pay off your balance. After the promotional period you'll be charged interest at the cash advance rate on any unpaid transferred balances.
Consolidating your credit card debt
With only one account to pay off, it’s easier to track repayments.
Managing your annual fees
Closing the other card accounts means you only have one set of annual fees to pay. 

 

Choose your card

 

Other cards with a balance transfer

Amplify Signature Amplify Rewards

Our most rewarding credit card with Amplify Points.

Current offer includes 0% p.a. for 15 months on balance transfers (1% balance transfer fee)#, and up to 200k bonus Amplify Points^. Minimum spend applies.

Amplify Signature Amplify Qantas

Our most rewarding credit card with Qantas Points.

Current offer includes 0% p.a. for 15 months on balance transfers (1% balance transfer fee)# and 90k bonus Qantas Points>. Minimum spend applies.

Balance transfer FAQs

Yes. Existing Bank of Melbourne credit card customers can request a balance transfer from another store, charge or non-Bank of Melbourne, St.George and BankSA credit card to their existing Bank of Melbourne credit card account. Balance(s) transferred will be at the special balance transfer rate of 6.99% p.a. for 12 months. Rate then switches to variable cash advance rate.

You can transfer up to two balances from another store or credit card to your Bank of Melbourne credit card provided you meet the minimum requirements for balance transfers.

To apply to transfer a balance to your existing Bank of Melbourne credit card, simply complete the balance transfer request form and send it back to us.

You can also request a balance transfer through Internet Banking. Once logged in, select "Transfer & payments" and then select "Pay out a credit card held with another bank." You can also arrange this over the phone by calling 13 22 66.

The Detail
Conditions, fees and credit criteria apply. This card is issued as a Visa card. Before making a decision read the Terms and Conditions and consider if the product is right for you. 

Switches, upgrades, or Westpac Group staff are ineligible. This promotion may be varied or withdrawn at any time and is not available in conjunction with any other promotion.

#Balance Transfer Promotion: The promotional balance transfer rate is available when you apply and are approved for a new Vertigo, Amplify Platinum or Amplify Signature credit card between 3rd March 2021 and 28th September 2021, and request at card application to transfer balance(s) from up to 3 non-Bank of Melbourne, St.George and BankSA Australian issued credit, charge or store cards. The promotional rate will apply to balance(s) transferred (min $200 up to 80% of your approved available credit limit) for the promotional period, unless the amount is paid off earlier. Activating your card triggers the processing of the balance transfer. A balance transfer fee of 1% of the transferred balance(s) will apply to balance(s) transferred to a Amplify Platinum or Amplify Signature credit card. The balance transfer fee will be charged to the card account on the same day the balance(s) are debited to the account. No balance transfer fees apply to a Vertigo credit card. The applicable variable cash advance rate will apply to any unpaid balance transfer amount remaining at the end of the promotional period. Bank of Melbourne will not be responsible for any delays that may occur in processing payment to your other card account(s) and will not close the account(s). If your account has an interest free period for purchases, to be entitled to that interest free period, you need to pay off the “monthly payment balance” listed on your statement of account (not the full closing balance) by the relevant payment due date.

*Amplify Platinum Bonus Amplify Points Offer: The bonus 80,000 Amplify Points promotion is available for new customers when you apply and are approved for a new Amplify Platinum Amplify Rewards credit card between 3rd March 2021 and 28th September 2021, and spend the minimum amount of $3,000 on eligible purchases within 90 days from card approval in one or more transactions. Eligible purchases do not include interest, fees and charges, cash, or ATM cash advances, cash equivalent transactions, gambling transactions, a purchase from or payment to a local, state or federal government or government related agency, BPAY or similar transactions (such as Post Billpay), refunds and balance transfers debited from the card account. Existing customers who currently hold an Amplify, Amplify Platinum or Amplify Signature card issued by Bank of Melbourne, St.George or BankSA, or who have held one in the last 12 months, are not eligible for this offer. The bonus Amplify Points will be added to your points balance within 12 weeks of the eligible spend criteria being met.

^Amplify Signature Bonus Amplify Points Offer: To be eligible to receive up to 200,000 bonus Amplify Points over 2 years, you must apply and be approved for a new Amplify Signature Amplify Rewards credit card between 3rd March 2021 and 28th September 2021. You'll receive 100,000 bonus Amplify Points when you spend a minimum amount of $12,000 on eligible purchases on the credit card within the first 12 months from card approval. You'll receive an additional 100,000 bonus Amplify Points in the second year of your credit account being open, if you spend a minimum of $12,000 on eligible purchases within the subsequent year. If you do not meet the minimum spend in one year, you forfeit the bonus points for that year only, however you are still eligible for bonus points in subsequent years if you meet the minimum spend in subsequent years during the promotional period. Eligible purchases do not include interest, fees and charges, cash or ATM cash advances, cash equivalent transactions, gambling transactions, a purchase from or payment to a local, state or federal government or government related agency, BPAY or similar transactions (such as Post Billpay), refunds and balance transfers debited to the card account. Existing customers who currently hold an Amplify, Amplify Platinum or Amplify Signature card issued by Bank of Melbourne, St.George or BankSA, or who have held one in the last 12 months, are not eligible for this offer. The bonus points will be credited to your points balance within 12 weeks after the eligible spend criteria is met.

>Bonus Qantas Points Offer: The respective bonus Qantas Points promotions are available when you apply and are approved for a new Amplify Platinum Amplify Qantas or Amplify Signature Amplify Qantas credit card between 3rd March 2021 and 28th September 2021, and spend the minimum amount of $3,000 on eligible purchases on a Amplify Platinum Amplify Qantas credit card or $6,000 on eligible purchases on an Amplify Signature Amplify Qantas credit card within 90 days from card approval in one or more transactions. Eligible purchases do not include interest, fees and charges, cash or ATM cash advances, cash equivalent transactions, gambling transactions, a purchase from or payment to a local, state or federal government or government related agency, BPAY or similar transactions (such as Post Billpay), refunds and balance transfers debited to the card account. Existing customers who currently hold an Amplify, Amplify Platinum or Amplify Signature card issued by Bank of Melbourne, St.George or BankSA, or who have held one in the last 12 months, are not eligible for this offer. The bonus Qantas Points will be credited to your Points balance within 12 weeks after the eligible spend criteria is met.

<Converting Amplify Points: You can convert the points earned on your Amplify Signature Amplify Rewards or Amplify Platinum Amplify Rewards credit card to e-gift cards via the Amplify rewards website. The estimated e-Gift card value in the above examples are based on current redemption rates as at 10th February 2021 and is subject to change without notification. All redemption of Amplify Points are subject to availability and the Amplify Terms and Conditions (PDF 111KB).

**55 Days Interest Free: Receive up to 55 days interest free on your purchases if your account is paid in full by the due date shown each month (excluding any balance transfers), this is called the Monthly Payment Balance on your statement.

1. Earn Amplify Points through the use of an Amplify, Amplify Platinum or Amplify Signature card as set out in the Amplify Terms and Conditions (PDF 111KB). Points are not earned on cash advances and balance transfers or in other specified circumstances. Minimum 3,000 Amplify points is needed to redeem for any reward. Specific conditions may apply to the redemption of particular rewards. Refer to amplify.bankofmelbourne.com.au.

2. Complimentary insurance covers: AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631 (trading as Allianz Global Assistance) under a binder from the insurer, Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 has issued an insurance group policy to Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714 (Westpac) which allows eligible Bank of Melbourne account holders and cardholders to claim under it as third party beneficiaries. Any advice on insurance is general advice only and not based on any consideration of your objectives, financial situation or needs. The terms, conditions, limits and exclusions of the group policy are set out in the Credit Card Complimentary Insurance Terms and Conditions (PDF 397KB) which may be amended from time to time. Westpac does not guarantee this insurance.

3. Earn Qantas Points as set out in the  Amplify Terms and Conditions (PDF 111KB). Qantas Points are not earned on cash advances and balance transfers or in other specified circumstances. You must be a member of the Qantas Frequent Flyer program to earn and redeem Qantas Points. Membership and Qantas Points are subject to the terms and conditions of the Qantas Frequent Flyer program. A joining fee usually applies, but for a limited time Bank of Melbourne has arranged for this to be waived for new Amplify cardholders who are not already members and who choose to link their card to Amplify Qantas (limit of one complimentary membership per new account). For more information on the Qantas Frequent Flyer program visit www.qantas.com/fflyer or call 13 11 31.