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If both old and new cards belong/ed to the same card ACCOUNT then there won't be a problem and it will go back to that account.
Ok, now this is my case:
I'm on vacations in the USA and while I've been here I was interested in buying a camera lens I found on ebay. I received an ebay gift card for Christmas which I decided to use but then things go ugly:
1. I made the purchase using the gift card.
2. Everything went well until I received the lens but as I tested it, I found it was useless.
3. I asked for a full refund from the seller and shipped the piece of plastic back.
4. Days later I received the refund notification from ebay and paypal (I have a linked account on ebay), but neither the transaction ID or any refund status is shows on the activity report.
5. I have checked everything, I have tried to contact paypal and is a pain.
6. I'm almost close to believe that I was robbed.
I hope I don't have to use paypal anymore after this.