If the bank account is closed, the payment would be returned back to Stubhub for reprocessing. At that point, you may enter in a different bank account or you can set to be paid via PayPal. If the payment hasn't processed yet, Stubhub should be able to make the switch to the correct account. You can send a private message to one of the moderators - AllyD, NikkiM or KAttW and they should be able to assist you.
Any chance the process works differently because it's a refund and not a payment? I was told by StubHub Customer Service that I would have to contact my old bank to get the payment; my old bank said they would reject it if the account wasn't valid. I don't particularly want it to be chillin' in limbo and since it's already taking 120 days to get the refund, I don't really want to wait another undetermined amount of weeks to get my money back. It's already kind of a pain in the ass that I have to keep tabs on it for so long.
It depends but even in cases where the bank initially rejects the refund, they will generally accept it the second time we put it through. We'll need to wait until the refund processes to see what happens.