A bobbin transfer apparatus simultaneously transfers consecutive individual adapters having at least one fully wound bobbin of yarn thereon and consecutive individual adapters having at least one substantially empty bobbin of yarn thereon between a yarn bobbin winding machine adjacent the transfer apparatus and a bobbin suspension transporting mechanism positioned over the transfer apparatus for consecutively moving full bobbins from the transfer apparatus to a yarn processing machine and returning substantially empty bobbins therefrom to the transfer apparatus. The transfer apparatus includes a conveying device for consecutively conveying the individual adapters in a generally vertical position through a closed path of travel. The transfer apparatus also includes three work stations positioned in the path of travel of the conveying device and in which devices are provided in the first work station for moving upwardly to carry an adapter with a full bobbin thereon from the transfer apparatus to the transporting mechanism and to receive an adapter with a substantially empty bobbin thereon from the transporting mechanism and carry the same to the transfer apparatus. The second and third work stations provide devices for, preferably simultaneously, consecutively removing the empty bobbins from the adapters and mounting fully wound bobbins from the winding machine on the empty adapters for return to the first work station to be conveyed to the transporting apparatus.