Transfer molding consists of a mold cavity similar to a compression mold. In addition, the transfer mold contains a transfer pot and a ram, where the rubber material is placed before compression. The mold cavity contains transfer holes, which connect to the transfer pot through sprues. During transfer molding, the ram is compressed and compounded rubber material flows through the sprues into the transfer mold cavity where under heat and pressure the rubber compound cures into the mold cavity configuration.

Unlike the compression molds, transfer molds consume additional rubber when filling the cavity in the "pot" and "sprues". However, because the cavity plates start out closed, less rubber escapes the cavity, thereby limiting excess flash. This also makes it well suited for molding delicately shaped parts or securing inserts that are embedded in a product.