If you emit a refund on the original payment method of your customer, it is not reversible. For a full comprehension of how refunds work, you can refer to your payment gateways' documentation.
If you emit a gift card refund and need to cancel it to emit a cash refund instead, you'll just need to disable the gift card and emit the refund manually.
Return Magic gives you the full refund code in the detailed view of the return, so you can use that code to search for the gift card in your console.
If you have any additional questions, feel free to send us an email at firstname.lastname@example.org or comment below!