As already mentioned, past the 24 hour mark this is not a ‘refund’. Though once in a while, the system does let you refund slightly after the 24 hour mark, but really, it’s not supposed to. TravelBank funds, if you are refunding their, does need some manual processing so doesn’t happen right away.

If you are canceling your non-refundable ticket after 24 hours, no matter the payment method, correct, just goes to an FFC. Unless more complicated, like canceling after flying the outbound of a round trip, it is immediate (IME) - this is because an FFC is the same PNR with the itinerary removed, and the funds remained attached, so you just need to go in and rebook the itinerary (or now, use the funds as a method of payment towards a new PNR.