How Long Does A Balance Transfer Take?

Information verified correct on August 31st, 2015
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.

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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 August 31st, 2015
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Cash advance rate (p.a.)
St.George Vertigo Platinum
A platinum card with a low interest rate on balance transfers and purchases with a low annual fee.
0% p.a. for 3 months (reverts to 12.74% p.a.) 0% p.a. for 20 months $99 p.a. 21.49% p.a. Go to site More info
NAB Low Rate Credit Card
Low ongoing interest rate on purchases and balance transfers.
0% p.a. for 12 months (reverts to 13.99% p.a.) 4.99% p.a. for 6 months $59 p.a. 21.74% p.a. Go to site More info
American Express Velocity Escape Card
Enjoy 7,500 bonus Velocity Points when you spend $300 within the first 3 months and up to 2.00 points for every dollar you spend, together with a $0 annual fee. Offer ends on 30 September 2015.
20.74% p.a. 0.99% p.a. for 6 months with 1% balance transfer fee $0 p.a. Go to site More info
HSBC Platinum Credit Card
Earn rewards points plus a balance transfer offer. Access to Platinum benefits 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

* 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.

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