A transfer belt wound between a primary pulley and a secondary pulley of a continuously variable transmission, the transfer belt including: a plurality of elements, each of which has a body that includes a saddle surface and a pair of pillars that extend toward a radially outer side of the transfer belt from both sides of the saddle surface in a width direction; and a bind ring that binds the plurality of elements annularly with an inner peripheral surface of the bind ring contacting the saddle surface of each of the plurality of elements.