Simplify and save

Want to save on credit card interest?

If you have an existing credit card balance with another Australian bank, financial institution or store card, then you may consider transferring the balance to Bank of Melbourne to save money on interest.

To find out about our current balance transfer offers.


Why transfer?

  • 0% p.a. interest on balance transfers means you can focus on paying off your credit card balance without accruing interest on the transferred amount for a fixed period.
  • Take out a new Bank of Melbourne credit card and ask to learn more about our 0% p.a. balance transfer offers when you apply.


See how much you could save



Transferring your balance is easy

Take out a new Bank of Melbourne credit card and request the 0% balance transfer offer when you apply

  1. Start an online application for the credit card of your choice
  2. Select YES within the form that you would like to transfer a balance to your new Bank of Melbourne credit card
  3. Supply card details for the balance you would like to transfer
  4. Complete the transfer by activating your new card.


Choose from one of the following options to transfer up to 2 non-Bank of Melbourne credit or store cards to your existing Bank of Melbourne credit card2:

Via internet banking

Once logged in, select “Transfer & payments” and then select “Pay out a credit card held with another bank.”

Via phone

Call 13 22 66 to arrange a balance transfer over the phone.


Balance Transfer FAQs

The Detail

Conditions and fees apply. Credit criteria apply to all credit products

Before making a decision, it's best to read the terms and conditions.

Please read these documents and keep a copy. You can request a paper copy at a branch.

Existing Bank of Melbourne credit card customers can request a balance transfer from another store, charge or non-St.George, non-Bank SA and non-Bank of Melbourne credit card to their existing Bank of Melbourne credit card account. Balance(s) transferred will be at the special balance transfer rate of 2.99% p.a. for 12 months. Rate then switches to variable purchase rate.

The promotional balance transfer rates are available when you apply for a new Bank of Melbourne Vertigo, Vertigo Platinum or No Annual Fee credit card between 3rd May 2017 and 20th September 2017 and request at application to transfer balance(s) from up to 3 non-St.George, Bank of Melbourne and BankSA Australian issued credit, charge or store cards. The promotional rate will apply to any balance(s) transferred (min $200 up to 95% of your approved available credit limit) for the promotional period, unless the amount is paid off earlier. The variable purchase rate will apply to balance(s) transferred but left unpaid after the end of the promotional period. Switches, upgrades, customers accessing employee benefits or packaged cards are ineligible. Promotional rate not available in conjunction with any special offer not listed on Interest free days don’t apply to balance transfers.

2. The variable purchase interest rate applies to balance transfers requested at any other time. 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.