To ask advice regarding refund from US?

[Mightyfedup]

My daughter has had a refund agreed from a US firm of $15,000. They are now saying they cannot refund her the money has the card she paid with was reported lost.

I called her bank and they said this is nonsense and that money can be refunded only lost/stolen card but no money can be taken.

Is this correct? The company did not want to refund her so I am very concerned.....

Afaik the money will go back to a holding account in the bank as the card number will no longer be valid. They will then allocate it to the new card number, after investigation. What was the refund for?

A service that she had to cancel. I am very worried this is an excuse.