Okay, so I just went through the yellow posts, and couldn't see the answer to this anywhere...
I have 7 characters on the Harbinger, and 13 on Dalborra.
When the consolidations happen, what happens to my 7 excess characters?
This is the main reason why I haven't transferred any of my characters yet. (Sure, I can delete characters on Harbinger probably, or pay to transfer them off, but I'd like to avoid doing that if at all possible.)
If you wait for consolidations, you should get all your toons (20), but you will not be able to make any more until you are down to your usual character limit (12 for subs with no additional character slots purchased).