The most common and most likely answer to this crossword clue is the 9 letter word REFERRALS
I've seen this crossword clue in The Guardian
R
E
F
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R
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More clues leading to the result REFERRALS
Buddy explains!

The straight part
We know that "transfers" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case transfers = referrals.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does REFERRALS mean?
REFERRALS noun- The act or process of transferring someone or something to another, of sending by reference, or referring.
- A document used by schools detailing some form of a student's misbehavior and listing the actions taken before and after the student's receipt of the referral.