The name of the chemical bond that forms when electrons are transferred between atoms is called an ionic bond. In this type of bond, one atom donates electrons to another atom, resulting in the formation of charged ions. The positively charged ion (cation) and the negatively charged ion (anion) are attracted to each other due to electrostatic forces, creating a strong bond. Ionic bonds are typically formed between metals and nonmetals and are crucial in the formation of salts and various compounds in chemistry.