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You don't have a right to cancel the contract unless it provides for it in a situation like yours. If you contact the source of the electronic transfer and instruct them not to continue you may be sued by the gym. Moreover, sometimes the credit card/bank won't take that instruction and will require you to close the account altogether and have a new card issued or bank account opened.
This is information only, NOT legal advice. No attorney-client relationship has been created. Consult an attorney in your state for legal advice regarding your issue.
Other than negotiating with the gym, as I said, you are legally obligated per the contract. Suggestion: sell the membership to another if allowed in the agreement.