Bankwest balance transfer guide

Information verified correct on May 1st, 2017

bankwest-logoLooking to repay credit card debt? A balance transfer with Bankwest could be your answer.

If you’re struggling to balance debt repayments and high interest costs, a balance transfer with Bankwest could be a solution to repaying your debt faster without the cost of high interest.
Here you can compare the features, benefits and restrictions of a balance transfer with Bankwest. We've also included a step-by-step balance transfer application guide so you can complete your application with ease.

Bankwest Breeze MasterCard

Bankwest Credit Card Offer

With the Bankwest Breeze MasterCard you can enjoy a low annual fee combined with a low ongoing interest rate on purchases and a 0% p.a. introductory balance transfer rate.

  • $59 p.a. annual fee
  • 12.99% p.a. on purchases
  • 0% p.a. for 21 months with 2% balance transfer fee on balance transfers
  • Cash Advance Rate of 21.99% p.a.
  • Up to 55 days interest free

Comparison of Bankwest Credit Cards

Rates last updated April 30th, 2017.

Bankwest Qantas MasterCard

Interest-free period changed from 55 to 44 days.

June 21st, 2016

Bankwest Breeze MasterCard

New balance transfer offer of 0% p.a. for 21 months with 2% BT fee and 12.99% p.a. on purchases

December 12th, 2016

Bankwest More World MasterCard

80,000 bonus Qantas Points has been discontinued.

January 31st, 2017

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Balance transfer rate (p.a.) Purchase rate (p.a.) Annual fee Interest Saved
Bankwest Zero Platinum MasterCard
This card comes with a low 2.99% p.a. for 9 months on balance transfers, $0 foreign transaction fee, plus a $0 annual fee and complimentary international credit card travel insurance.
2.99% p.a. for 9 months 17.99% p.a. $0 p.a. Go to site More info
Bankwest Breeze MasterCard
Enjoy an introductory rate of 0% p.a. on balance transfers for 21 months (2% balance transfer fee applies). Limited time only.
0% p.a. for 21 months with 2% balance transfer fee 12.99% p.a. $59 p.a. Go to site More info
Bankwest Zero MasterCard
This is a no annual fee, no joining fee credit card that also offers 2.99% p.a. interest rate on balance transfers for 9 months.
2.99% p.a. for 9 months 17.99% p.a. $0 p.a. Go to site More info
Bankwest Qantas MasterCard
Earn 0.5 Qantas Points for every dollar you spend.
2.99% p.a. for 9 months 20.49% p.a. $100 p.a. Go to site More info
Bankwest Qantas Platinum MasterCard
Enjoy a high credit limit with complimentary travel insurances and earn 0.5 Qantas Points per $1 spent on eligible purchases.
2.99% p.a. for 9 months 20.49% p.a. $160 p.a. Go to site More info
Bankwest More World MasterCard
Enjoy a low balance transfer rate and earn 2.5 per $1 spent on eligible purchases.
2.99% p.a. for 9 months 19.99% p.a. $240 p.a. Go to site More info
Bankwest Qantas World MasterCard
Earn uncapped Qantas Points per $1 spent on eligible purchases. Also enjoy no foreign transaction fees on online and overseas spend.
2.99% p.a. for 9 months 20.49% p.a. $270 p.a. Go to site More info

A balance transfer guide with Bankwest

A balance transfer allows you to transfer your outstanding balance from a high interest credit card to a new credit card offering a lower rate for a promotional period. The low rate means you have time to start making repayments towards your debt without the accumulating fees and high interest charges that would normally be piling up.

What are the benefits of completing a balance transfer with Bankwest?

Some of the perks you can expect from completing a balance transfer with Bankwest include:

  • Save on interest costs. The low rate period means your money isn’t being used to pay interest but is instead going straight to reducing your outstanding balance.
  • Repay your debt. Consolidating your debts onto the one credit card can help you take  control of your finances. The low rate period allows you to clear your debt faster as you repay your debt without the burden of interest.
  • Quick and easy to apply. The application should only take up to fifteen minutes to complete and you should hear a response from Bankwest moments after submitting your application.

What else should I consider?

  • Know what the interest rate will be once the promotional period ends. Each of the Bankwest cards have different promotional offers so it is important to know how long your promotion period is for. Once this period ends, and if you haven’t repaid your debt than the interest rate will revert back to a much higher purchase rate.
  • How much debt can I transfer? You can only transfer up to 95% of your credit limit. When applying for your credit limit it is important to request a limit that is going to support your debt. For example, a credit limit of $10,000 can only support a transfer amount of $9,500.
  • Which credit card should I apply for? With a wide range of Bankwest credit cards available you might be unsure which card is right for you. Each person has a different financial situation so it’s important to choose the card that is going to be most beneficial for you. You can compare your options and decide what’s right for you here.

Applying for a Bankwest balance transfer

Eligibility requirements

There are some basic eligibility requirements you need to meet to apply for a Bankwest credit card:

  • Be over the age of 18
  • Be a permanent Australian resident
  • Earn a regular income and have a good credit rating

Required documents:

Having the following documents handy will assist you throughout the application process:

  • Basic personal information. You need to provide some basic information about yourself, including your residential address, date of birth and contact details.
  • Identification. New Bankwest accounts holders will need to provide at least two of the following forms of identification: Driver’s licence, Medicare card, passport or birth certificate.
  • Financial details. If you work for an employer, you may have to provide your two most recent payslips. If you’re a new Bankwest customer, you can show bank statements for the last three months. If you’re self-employed you have to show your two most recent Notice of Assessments from the tax office. You’re also required to provide information about your other income, assets, ongoing expenses and liabilities.Back to top

Step-by-step on how to apply for a balance transfer application with Bankwest

Step 1: Select the card you wish to apply for and start the application

Once you’ve compared your options and are ready to apply, you can click the green ‘Go to site’ button on our comparison table. This will direct you to the secure Bankwest form where you will begin your application.

Screen shot 2016-01-29 at 10.15.09 AM

Step 2: Agree to the conditions

Before you begin you will need to agree to a list of requirements before entering the security code and continuing. The conditions you need to agree to include:

  • I am over 18 years of age
  • I am a permanent Australian resident
  • I have read and accept the Privacy Statement and Consent
  • Any identification document details provided during electronic identification will be verified with the document issuer

Screen shot 2016-01-29 at 10.19.13 AM

Step 3. Personal details

You will need to complete questions concerning your:

  • Name. Your full name and what you would like to appear on your credit card.
  • Address. Your main residential address.
  • Residential status. Confirm whether you own your residence or if you’re renting or paying board.
  • Time at address. Indicate the length of time you have been living at your residential address.
  • Postal address. If different to your residential address, list your preferred mailing address.
  • Gender. This will need to be the same as what’s on your driver’s licence.
  • Marital status. This could include married, single, de-facto relationship and more.
  • Driver’s licence number. If you hold a current driver’s licence you will find the number at the top right.
  • Date of birth. You must be over the age of 18 to apply.
  • Contact number/s. Provide the appropriate day time and after-work hours contact details.
  • Email address. You may receive confirmation emails and important alerts, so make sure to list your main email address.

Screen shot 2016-01-29 at 10.24.03 AM

Step 4. Residency, citizenship and tax

You will need your tax details to assist you with these questions:

  • Countries you’re a resident in
  • Countries you’re a citizen of
  • Countries you’re required to pay tax or submit a tax return
  • Your tax file number

Screen shot 2016-01-29 at 10.28.47 AM

Step 5. Employee details

A pay slip from your employee will help you answer the following questions:

  • Employment status. This could be full time, part time or casual.
  • Occupation. What field is your job classified under? This could include options like hospitality or management.
  • Employer. What is the name of the company you’re employed by?
  • Employer contact details. List which is the best form and time to contact your employer. You may also like to advise your employer that a bank representative might call for confirmation.
  • Time you have been working at this employer. How long have you been working for the company?

Screen shot 2016-01-29 at 10.33.28 AM

Step 6. Password and additional cardholders

If you are an existing Bankwest customer you will need to enter our customer pin or new Bankwest customers are required to create a new password. You will also be asked to indicate whether you would like to apply for an additional cardholder.

Step 7. Financial details

You may need a previous pay slip and bank statement to assist you with questions concerning your finances. You will need to answer the following questions:

  • Employment income
  • Your partner's employment income if applicable
  • Number of dependants.:This is the number of children or relatives you care for
  • The worth of any assets you may have such as a house or car
  • A guideline of how much your monthly payments for rent or mortgage are
  • Balance owed on any existing credit cards you have
  • Total amount of monthly payments including costs such as groceries and phone bills.

Screen shot 2016-01-29 at 10.41.03 AM

Step 8. Application assessment

Review the details you entered are correct. Ensure you understand the terms and conditions before submitting your application.

Step 9. Credit card options

If you are successful, the next step is to advise your credit card requirements. You will need to provide your preferred credit card limit as well as advice that you are wanting to complete a balance transfer. You will need the account details of your old card.


Step 10. Pending decision

Once the online application has been completed you will receive an instant online response with the outcome of your application. If you are conditionally approved, you will be contacted by Bankwest, within 10 working days, via email to request documents to support your application such as: proof of income and financial statements. When speaking with the Bankwest consultant, ensure they have received your balance transfer details and will begin the process.

Step 11. Card activation

Once you have received your credit card you will need to activate it straight away. The balance transfer process will not begin until the card has been activated. After this it may take up to five days to go through.

Step 12. Repay your debt

Congratulations! You’ve completed your balance transfer. Now that you’re all set up, it’s time to start making a dent in that debt.

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