The 'IBAN required' status means that you have completed the payout request creation and that the client needs to proceed.
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At this stage, the operation can still be cancelled at any time by clicking on the payment details in the 'Payments' tab and then on 'Cancel Refund'. Once it has been cancelled, the status will be updated to 'Payment cancelled'.
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From that same page, you can also copy the link or display the QR code previously generated, as well as re-send an email to your client to invite them to proceed.