When clicking transfer account, you have two options, Back and continue.
At least for iPhone 1.3 version, clicking Back will display The same screen of clicking continue (your account will be transferred and you will be redirected to home) but actually won't let you go Back to home, freezing all buttons. Even closing The app won't solve this. The only way to fix this is having another device to transfer account, but The One on first device will stay there, so The same account will be on two different devices. Happened to me and to some friends.