The transference theory reduces causation to the transmission of physical conserved quantities, like energy or momenta. Although this theory aims at applying to all felds of physics, we claim that it fails to account for a quantum electrodynamic effect, viz. the Aharonov-Bohm effect. After having argued that the Aharonov-Bohm effect is a genuine counter-example for the transference theory, we offer a new physicalist approach of causation, ontic and modal, in which this effect is embedded.