ADBARNTEK: it seems that you have two separate accounts, one for the domain name and DNS management, and one for hosting. It also seems that they provide a refund for closing the hosting account within a limited time period from the date of signing up with them.

However, transfer means that your domain registration (with the accompanying DNS management) passes over to the new company.
So, if you TRANSFER , they will NO LONGER be responsible for it. It will become responsibility of VH. That's what goes with TRANSFER. If, instead, you keep the Domain name registration with them and you only host with VH, then, actually, they will still be responsible for this and you will continoue to be billed by them. In that sense, you will only POINT (and not transfer) your domain in your VH account.

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