How does payment work when switching registrars?

So, let’s say you register a domain with GoDaddy, then move it over to Cloudflare. After going through the wait time and paying for the transfer, does the renewal payment go to Cloudflare, or does it still go to GoDaddy? I figure Cloudflare, but does the renewal price stay the same as GoDaddy’s, or does it change? Couldn’t find a straightforward answer on Google for this.

Who’s charging for transfers? I’m a bit confused on why you’d lose money. For instance, if you pay GoDaddy $20 in January 2022 for a domain expiring January 2023, then decide to transfer to Cloudflare in June 2022 for $20, the domain expiration moves to January 2024. So, you’ve paid twice but your domain is good for two years.

@Kimberly
If you transfer as described, the expiration would be January 2024 after the transfer completes. GoDaddy allows you to approve the transfer quickly. Here’s more info: https://www.godaddy.com/help/approve-a-transfer-away-from-godaddy-6040.

@esleystanley
Whether the transfer takes hours or days, the expiration time you’ve paid for doesn’t change. And honestly, GoDaddy should be avoided altogether.

Renewal costs and dates are set at the time of payment. When you move your domain, any remaining time you’ve paid for carries over to the new registrar. If you renew for two years and then transfer after six months, you’ll still have 18 months left with the new registrar.

Some registrars charge a transfer fee to pull your domain over, but that doesn’t affect your expiry date or renewal fee. The main thing is that you’ll pay the renewal fee set by the new registrar going forward, so it’s good to check their rates before moving.

Once the transfer is done, you’ll be paying Cloudflare for renewals. The renewal price might differ from what GoDaddy charged, so checking Cloudflare’s fees before transferring is a good idea to avoid surprises.

After transferring, Cloudflare is your new registrar. You pay their renewal prices moving forward. GoDaddy is out of the picture from that point on.

LEVISMART said:
After transferring, Cloudflare is your new registrar. You pay their renewal prices moving forward. GoDaddy is out of the picture from that point on.

Actually, when you transfer, you keep the time you’ve paid for and usually get an extra year added on. For example, if your domain expires on 1/1/2026 and you transfer today, it will expire on 1/1/2027.

For some domains like .uk or .co.uk, transfers are free but don’t add an extra year. They have a unique ‘push’ transfer system.

@esleystanley
Appreciate the correction! Shouldn’t have rushed my reply.