Once the cancellation request is accepted, your payment is immediately returned as Airtasker Credit. You will be able to use this right away for your next task and you won't have to wait for the bank to return your funds.
Having your credits back to your account instantly when a task gets cancelled enables you to immediately repost the task to find another tasker for your job.
Do you have a specific tasker in mind? You can also check this article to let them know that you are interested in getting their services through Airtasker.
If you want to return the credits back to your card, click here.