Domain transfers can take anywhere from 30 minutes to 8 days to complete. The exact time-frame depends on the extension and your current registrar (the registrar you're transferring away from). Important things to keep in mind when transferring:
Attention: If your domain expired with your old registrar and you've renewed it with them, please do not transfer it within 45 days of the previous expiration date. According to ICANN, the standard extra year would not be added to your domain in this case – because losing registrars revoke renewals in these situations. You would also lose renewal fees paid to the old registrar. There's more information here.
To submit a transfer request for the domain, first you'll want to visit the Domains > Transfer section of your webhosting account. After requesting the transfer, you will need to enter the Auth Code (formerly known as "EPP Code") acquired from your old registrar. To do so: Once you're signed in to your account, go to Domain List and click Authorize Transfer next to the required domain name. Once you've entered the code, the process begins.
You will receive a transfer approval email at the Administrative contact email address listed for the domain in Whois. This email comes from email@example.com (or firstname.lastname@example.org). Once the transfer is confirmed, your old registrar will have 5 days to release the domain. You may contact the old registrar and ask them to release the domain sooner. If there are no problems, the domain will be released from your old registrar and added to your hosting account.