Domain transfer is a process that involves multiple steps at both the current and the target domain registrars:
To ensure the security of your domain, the transfer request is verified to make sure the transfer is authorized and legitimate
It's also necessary to verify that there are no locks or holds on the domain and that it meets all the transfer requirements
The current domain registrar then takes time to process the request
Once the domain is transferred to the new registrar, the domain records are updated with the new information, which is followed by DNS propagation
That's why it usually takes 5-7 days to transfer a domain ☝️
The exact timeframe depends on the current domain registrar (the one you want to transfer your domain from), and the TLD of your domain. In rare cases, some TLDs may require more than 7 days.
You may always check the status of your domain transfer in the Domains section of hPanel: What Does Domain Transfer Status Mean?