Definition of words

What some words mean in these terms:

  • "You" is the person completing the balance transfer request.
  • "NAB" is National Australia Bank Limited.
  • "NAB card account" is your personal NAB credit card account.
  • "NAB card account terms" means the terms and conditions that apply to your NAB Card Account.
  • "Nominated account" is the account from which you've requested a balance transfer.
  • "Promotion period" is the number of monthly statement periods or other period of time the special promotion will apply to the balance transfer amount and is set out in the details of the balance transfer offer.
  • "Special promotion" is the interest rate offered by NAB in connection with the transfer of a balance from a nominated account for the promotion period.

The balance transfer fee

You’ll be notified if a balance transfer fee applies in the details of the special promotion. The fee is calculated on the amount transferred and is charged to your NAB card account when your balance transfer is processed.

The balance transfer rate

  • The rate only applies to balance transfer amounts processed by NAB under these Terms.
  • The rate is charged from the date the balance transfer amount is debited to your NAB card account for the promotion period, unless the amount is paid off earlier.

The rate at the end of the promotion period

This applies where the promotional period is for a fixed period. At the end of the promotion period, interest will be charged on any outstanding balance transfer amount still owing on your NAB card account at your NAB card account’s variable cash advance rate (view current credit card rate information).

New NAB credit card applicants

If NAB approves your application for a NAB card account, NAB will send you a credit card offer (with the applicable terms and conditions). If you haven’t used your NAB card account (or card) before NAB processes your balance transfer request (usually a minimum of 5 days from your request), you agree that when NAB processes your request this will be your acceptance of NAB‘s credit card offer.

NAB card account terms may apply

When you have a balance transfer, your NAB card account terms apply as follows:

  • Balance transfer amounts during the promotion period are designated purchases under the NAB card account terms.
  • Transaction amounts other than balance transfer amounts attract the applicable purchase interest. This is unless you make the interest-free days payment amount shown in your statement in full by the due date each month. A cash advance transaction attracts the card advance interest rate under your NAB card account terms.

Processing your balance transfer request

NAB will process each request for a balance transfer and debit your NAB card account in accordance with your request provided:

  • each balance transfer amount is $200 or more.
  • the nominated account(s) are non-NAB credit card or store card accounts issued in Australia and are not in default (e.g. overdue or over-limit) under their applicable terms and conditions on the date of the balance transfer request, or at the date request is processed. Debit cards with overdraft (credit) facilities are not acceptable.
  • the balance transfer request doesn’t exceed the applicable maximum amounts set out below.

Details needed to process your balance transfer

To process your balance transfer, we use your non-NAB card number to BPAY the balance transfer request. If your BPAY reference number for your non-NAB card isn’t your credit card number, we won’t be able to complete the balance transfer.

Maximum amount for a new NAB card account

Where a request is made within 30 days of opening a new NAB card account, NAB may transfer up to a maximum of 90% of the available credit limit (less any applicable annual card fee or balance transfer fee).

Where a request is made after the first 30 days of opening a new NAB card account, NAB may transfer up to maximum of 100% of the available credit limit (less any applicable annual card fee or balance transfer fee).

Maximum amount for an existing NAB card account

NAB may transfer the total of the balance transfer amount provided it is less than the available credit on your NAB card account at the time the balance transfer request is processed (NAB will transfer balance transfer amounts in full or in part in the order you request).

NAB may refuse any balance transfer request at its discretion (including if your cash access has been reduced or removed).

About rewards points

Some credit card features won't apply while you have a balance transfer.

If your NAB card account is linked to a rewards program, you won’t earn points in relation to balance transfer amounts.

Your payment obligations

For the NAB card account

While you have a balance transfer, you must continue to make minimum monthly repayments for your NAB card account by the due date each month. NAB will apply any payment you make in accordance with the order set out in the NAB card account terms (applied to the highest interest rate balance first).

For the nominated account

Your obligations to make payments to your nominated account in accordance with its terms and conditions continue. Also, it’s your responsibility to close the nominated account if that’s your decision.

When NAB isn't liable

NAB isn't liable for any loss:

  • arising from any delay in processing the balance transfer request
  • due to your failure to close a nominated account.

Important information

Credit cards terms and conditions apply. Personal interest rates, fees and charges are payable.

Approval and credit limit is subject to NAB's credit assessment criteria. Information, including interest rates and annual card fees, subject to change. Correct as at 4 October 2023.

Credit cards issued by National Australia Bank Limited.