According to PayPal Help Center refunds to credit/debit cards usually takes 2-5 business days, however it can take up to 30 days depending on the card company involved. If the card you paid with is closed or invalid, please contact the issuing bank, as the money will still be refunded to your credit card account. https://www.paypal.com/re/smarthelp/article/where-is-my-refund-faq1212
If you paid with PayPal balance, the money is refunded to your PayPal balance. After you have received the refund, you can withdraw money from your PayPal balance to your bank account or use the money for future purchases through PayPal. If you paid using a credit/debit card and your PayPal account balance, the amount paid by the credit/debit card is refunded to your card. The remaining amount is refunded to your PayPal account balance.