Balance Transfer Terms and Conditions

For details of the applicable balance transfer interest rate and period for the NAB Credit Card account, you wish to transfer your balances to, please see our credit card pages.

NAB from time to time, offer a reduced rate of interest when you transfer your credit card balance from a non-NAB credit card account. The reduced rate is known as a ‘Special promotion’ balance transfer rate and applies for a limited time, known as the ‘Promotional period’.

Understanding the following terms will help you in your application:

  • "You" is the person completing this balance transfer request.
  • "NAB" is the National Australia Bank Limited.
  • "NAB card account" is your NAB credit card account.
  • "NAB Card Account terms and conditions" means the terms and conditions that apply to your NAB Card Account.
  • "Nominated account" is any account from which you've requested a balance transfer.
  • "These Terms and Conditions" mean these Balance Transfer Terms and Conditions (and any terms applicable to the special promotion in promotional material).

Processing your balance transfer request

We'll process each request for a balance transfer and debit your NAB Card Account in accordance with your authority provided that:

  • each balance transfer amount is $200 or more.
  • the total of the balance transfer amounts is less than the available credit on your NAB Card Account at the time the balance transfer request is processed (we'll transfer balance transfer amounts in full or in part in the order you request).
  • the nominated account(s) are non-NAB credit card or store card accounts issued in Australia (debit card accounts are not acceptable). They must not be in default (eg. overdue or over-limit) under their applicable terms and conditions on the date of this balance transfer request, or at the date request is processed.
  • No more than two balance transfers are permitted.

We won't offer 100% of your credit limit to be used as a balance transfer. And we may refuse any balance transfer request at our discretion.

Delay in processing

In the absence of negligence by us, we will not be liable for any loss arising from a delay in processing.

Balance transfer amounts

These amounts are designated purchases for the purposes of the NAB Card Account terms and conditions. The NAB Card Account terms and conditions, including all bank fees and charges and government charges and duties, apply to balance transfer amounts debited to your NAB Card Account in accordance with your authority.

Other transaction amounts

Transactions (other than the requested balance transfer amounts) attract the purchase interest rate and cash advance interest rate applicable to your NAB Card Account.

Balance transfer rate

The applicable balance transfer rate:

  • only applies to amounts transferred from Australian nominated account(s) that are non-NAB Card Accounts or store cards.
  • is charged from the date the balance transfer amount is debited to your NAB Card Account for the balance transfer period, unless the amount is paid off earlier.
  • at the end of the balance transfer period (including a Promotional period), any outstanding balance transfer amounts still owing on your NAB Card Account, will be charged interest at the cash advance interest rate.

Rewards Program

If your NAB Card Account is linked to a rewards program you will not earn points from the balance transfer amounts.

Interest free days

Interest free days on purchases only applies when you pay your account in full by the due date each month. This includes any unpaid balance transfer amounts. You will not have interest free days when you have a balance transfer.

Nominated accounts

Your obligations in connection with any nominated account continue and you must pay any amounts due (in accordance with applicable terms and conditions). We will not close any nominated account. This is your responsibility.