I packed a character from my alternate free to play account. Just a lvl 4 fighter with no reincarnation cache and no shared bank, only personal inventory and personal bank space. The pack seemed to go fine. I then went to the Transfer Wizard. As others have posted, it took some time...10 minutes, maybe more, before the Wizard allowed me to initialize the transfer. Once I did I got the pop up message that the transfer had been initiated and that I would receive an email when the character was done transferring. Sigh, that has been almost 50 minutes ago and still no e-mail. This will be a test of patience.
Hoping that that transfer will eventually go through and be fine. Once that happens I'll scan the forums to see if any horror stories have occurred and if not then transfer my main character from my main account. She has so many past lives and account add-ons and gear that I can only imagine it will take much longer for hers to go through.