Yes. If you make a purchase, and the merchant refunds it, the instant we receive the refund, it's applied to your card.
You may see the refund in your transaction list, but not applied to your balance yet. That is ok and expected; as soon as the reversal/refund is complete on the merchant's side, it will be applied to your balance.
When the refund is applied, your displayed balance will increase.
All cards (reloadable or non-reloadable) accept refunds the same way as any other card on the card network. Any delay receiving the refund is solely due to the merchant; some merchants take up to 10 business days to process refunds.