Just FYI. I have recently made three consecutive transfers of 120k, 5k, and 5k each. The first two were transferred instantly, but the last one took 2 days and 10 hours to go through. It could be due to transferring too many times in a row, or it could be due to the two transfers of the same exact amount. Regardless, better to avoid doing this if you're trying to secure an award room.

As for why I didn't transfer all at once.... Award search tool is misleading in that when I search for a multiple night stay, it shows me the daily point rate based on the date of check-in. In my case, the point rates were 40k, 45k, 45k for the three nights I was booking for, but the award search showed me "Rates from: 40,000 points/night", so without much thinking I just transferred 120k.