Before a bank transfer payment is completed it will go to three different states: Pending, In Progress and Complete.
The payment will stay in this state from its creation until it’s sent to the bank for processing. During this period it is possible to cancel the payment.
If the user is subscribed to Bank Transfer notifications, they will receive an e-mail notification after the payment is created
There is no further action required by you once the bank transfer has been created unless the account is set up to require multiple approvers on a funds transfer. In this case, the transfer will need to be approved before it can be processed and moved into the "In Progress" state.
The payment was sent to the bank. At this stage, it’s no longer possible to cancel the payment
The payment is accepted by the bank. Outgoing Bank Transfers are typically credited to the beneficiary’s bank account on the next business day. Funds deposited on the Peloton account become available three business days after the bank transfer is moved to the Complete state.