How Long Does A Balance Transfer Take?

Rates and Fees verified correct on November 29th, 2014
Tired of waiting? Balance transfers can be processed faster than you think. Tired of waiting? Balance transfers can be processed faster than you think.

If you are wondering how long it takes for a balance transfer to take effect, then take a look at this article to find out how fast they can be processed. It is probably faster than you think!

A balance transfer is not a difficult and complicated procedure, and it is in fact much easier than people usually think. The application can be filled out in a matter of minutes, and the process after that speeds along very quickly.

Balance transfer information

A balance transfer is a transfer from one credit card to another. Usually this is done when a bank offers a special offer for transferring this balance. St.George has a balance transfer card specifically designed to meet the needs of customers that want to make a transfer in order to save considerable interest charges.

Processing time

If you are doing a transfer balance with a St.George Credit Card you can expect it to take approximately 14 days to be completed once they have received your request. Some cards may have different time periods although in general that is the usual time to do a balance transfer. Any new customer that is requesting a transfer will have it processed after the card has been activated and the identification check has been completed at a St.George branch, if necessary.

How to make an application

If you are currently applying for a new card with St.George, you can also request a balance transfer on your application. Once your account is open the balance transfer promotional periods begins and you will pay the specified interest rate that has been offered with the card. Once the introductory period has expired, you will start paying the credit card interest rate, which is usually the same rate that is applied to purchases.

Cardholders that are currently with St.George can put in a request for a transfer balance, as long as all of the minimum requirements are met for making a transfer, and you are allowed to make as many balance transfers as you would like.

Existing customers with St.George only have to complete a request form for a balance transfer and mail it in. It can also be done using online banking. Once you have logged into your St.George account you need to select ‘Transfer & Payments’ and then click on ‘Payout a Credit Card held with another Bank’. It is as simple as that.

It does not take long to complete a balance transfer request at St.George, but the sooner you make your application the sooner it can get processed, and the sooner you can start saving money every month.

Was this content helpful to you? No  Yes

This page was last modified on 27 August 2013 at 15:08.

Ask a Question

Disclaimer: At finder.com.au we provide factual information and general advice. Before you make any decision about a product read the Product Disclosure Statement and consider your own circumstances to decide whether it is appropriate for you.
Rates and fees mentioned in comments are correct at the time of publication.
By submitting this question you agree to receive follow up emails related to finder.com.au and to create a user account where further replies to your questions will be sent.

2 Responses to How Long Does A Balance Transfer Take?

  1. Default Gravatar
    Dan | April 23, 2013

    How long does a balance transfer take once the card is activated?

    • Staff
      Jacob | April 23, 2013

      Hi Dan. Thanks for the question. Typically, it takes two days. Watch this video for information on this topic. Jacob.

Credit Cards Comparison

Rates last updated November 29th, 2014
Interest rate (p.a.) Balance transfer rate (p.a.) Annual fee Cash advance rate (p.a.)
ANZ Low Rate
ANZ Low Rate
A low rate on purchases, balance transfer and a low annual fee. 13.49% p.a. 0% p.a. for 16 months $58 p.a. 21.74% p.a. Go to site More info
Citi Simplicity Card
Citi Simplicity Card
$0 annual fee credit card with a long term balance transfer offer. 19.99% p.a. 0% p.a. for 12 months $0 p.a. 19.99% p.a. Go to site More info
HSBC Platinum Credit Card
HSBC Platinum Credit Card
Earn rewards points plus a balance transfer offer. Access to prestige services including a personal concierge service and VISA Platinum reward program. 19.99% p.a. 0% p.a. for 8 months $0 p.a. 21.99% p.a. Go to site More info
Westpac Low Rate Card
Westpac Low Rate Card
A low interest rate credit card with a low annual fee and balance transfer offer. 12.49% p.a. 0% p.a. for 14 months $45 p.a. 21.49% p.a. Go to site More info
American Express Qantas Discovery Card
American Express Qantas Discovery Card
Receive 7500 Qantas Points and pay no annual fee ever. Plus earn 1 Qantas Point per $1 spent on all your everyday purchases. 20.74% p.a. 0.99% p.a. for 6 months with 1% balance transfer fee $0 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards CreditCardFinder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

Ask a question
feedback