According to Etsy Help Center https://help.etsy.com/hc/en-us/articles/115015440587-Finding-Your-Refund?segment=shopping, be sure to contact your seller directly to ask about your refund.
The cancellation and refund go through immediately but it takes exactly 48 hours to show as cancelled in your shop manager.
1.If You Paid with a Credit Card Directly on Etsy:
- After your refund has been issued, it may take 2-5 business days to appear on your credit card statement. Occasionally, refunds issued to non-US credit cards can take up to 30 days to appear. A credit card refund can only be issued to the card used for the original purchase. It’s not possible to have your refund issued directly to a different card.
- If the original card used for payment is no longer valid and a replacement card has been issued, the refund should appear automatically on your new card. If a replacement card hasn’t been issued, please get in touch with your credit card provider for more information about how to receive your refund.
- If you have an Etsy account and want to review your order’s refund history, click You > Purchases and reviews and then the View Receipt button next to the transaction.
2. If You Paid via PayPal:
- If you’re waiting for a refund through PayPal, double check your PayPal account and ask your seller directly about the refund.
- If you paid using a credit card without signing in to a PayPal account – using PayPal Guest Checkout – the money will go back to your credit or debit card. It can take up to 30 days for the refund to show up on your card statement.
- If the transaction is over 60 days old, the seller has to use PayPal’s “Send Money” feature to send the refund to your PayPal account.