Abstract: A purse and bag assembly is provided which allows the transfer of all personal effects at once, thereby maintaining preferred organization and allowing simple conversion into a variety of styles, configurations and functions. Specifically, a compartment which functions as one of a purse or interior liner interchangeably. As an interior liner, outer members comprise a plurality of purses and bags which are conventional in that they provide a method for carrying and a method to close and conceal personal contents. As an interior liner, magnetic fasteners keep items from going between it and the outer member, although, items may be consciously placed between the interior liner and outer member to keep them from apparent view. Finally, the transferable interior liner converts into a purse by way of a permanently affixed shoulder strap and flap enclosure.