There might be, depending on how the domain is transfered. Downtime can be prevented, though, so read on!
Some registrars enable you to manually approve and complete a transfer right away after it's confirmed, so you should check with them if they offer that function before initiating the transfer. If they do, downtime isn't really a concern, and the transfer should be completed within minutes.
If your old registrar does not offer that function, transfers will complete automatically in 5-7 days, and there will be some downtime. There are ways to prevent that, though, which you will need to start with before proceeding with the transfer. Our guide to preventing downtime is here.
And of course if you have any questions, just let us know.
Please note that we do NOT automatically change any domain's nameservers once it's transferred, so all domains arrive in our system with the nameservers they had prior to transfer. If you are planning to continue using the same hosting as before the transfer, and that hosting account remains active, it will continue to work once the domain is transferred into our system.
Note that if you are planning to continue to use external hosting (nameservers other than ours), then any DNS records will needed to be added in your web hosting account, not in our dashboard. Using external nameservers deactivates our DNS management.
If you are changing web hosts, you will need to update the nameservers in your dashboard to the new host's. To do that, click on update nameservers on the domain's page in your dashboard.
If you had DNS settings at your old registrar that you still want to use, you will need to migrate them and set those up in your iwantmyname dashboard. First, update the nameservers to ours (click on update nameservers on your domain's page), then back on the domain's main page, click on manage DNS records to access the page where you can update the DNS records.
If you are planning to use a service or platform that provides the hosting (like Squarespace, Big Cartel, Tumblr, etc.) then you will update the nameservers to ours from the drop-down list on that same nameserver update page (click on update nameservers on your domain's page in your dashboard).
Alternatively, if you would like us to manage the whole transfer process for you, check out our managed domain transfer service.