If you hold an existing NAB credit card and wish to transfer a balance from another financial institution, you can initiate a balance transfer through the NAB App or NAB Internet Banking. Here's how:
How to Request a Balance Transfer on an Existing NAB Credit Card
1. Using the NAB App:
- Open the NAB App and log in.
- Navigate to the Cards section.
- Select the credit card you wish to use for the balance transfer.
- Go to Usage controls.
- Tap on Request a balance transfer and follow the prompts to complete your request.
2. Using NAB Internet Banking:
- Log in to NAB Internet Banking.
- Navigate to the Cards menu.
- Select the credit card you wish to use for the balance transfer.
- In the Manage your card section, select Request a balance transfer and follow the prompts.
Important Information
- Balance transfers can be processed from up to five non-NAB credit cards or store cards issued in Australia. They cannot be processed between two NAB credit cards or on business cards.
- For a new NAB credit card, you can transfer up to 90% of the approved credit limit within the first 30 days of account opening. After 30 days, you can transfer up to 100% of the approved credit limit.
- For an existing NAB credit card, you can transfer up to 100% of the available credit limit.
- It typically takes 3 to 5 business days from the day you submit the request for the balance transfer to be completed.
- Even if you have a balance transfer offer with a 0% p.a. interest rate, you must make your minimum monthly payment by the due date each month for your promotional rate to continue.
- Unpaid balance transfer amounts after the promotional period ends will revert to the variable cash advance rate, which is currently 21.74% p.a.
If you need further assistance or have questions, please contact NAB at 13 22 65 or visit your nearest branch.
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