Upvote:3
Wizz Air have told you you will:
get a reply to my request by email in a couple of work days
and they should know better than anyone how long they will take. So anticipate something by Wednesday at the latest.
I would expect the e-mail to be confirmation that your account has been credited, so no extra time for the "refunding" step.
I purchase a ticket for the same flight again if needed?
While it is possible Wizz Air may block you from doing so there is (a) no reason for them to and (b) nobody else will. However you would be starting a new booking and it is possible the cost will have gone up relative to your earlier booking - perhaps by more than 20%.
Upvote:4
By the EU air passenger rights regulation, they should have offered you the option of refunding the full price of the ticket in cash (or bank transfer etc) within seven days.
Apparently you accepted being refunded in credit-for-future-tickets rather than cash, in return for a 20% extra reimburs*m*nt. This seems to moot the "within seven days" limits that applies to cash refunds, and all in all it may not be in your interest unless you have concrete plansto spend those credits in the foreseeable future.
Note that your acceptance of future credit instead of cash is not binding on you unless signed by you -- the regulation explicitly requires a signature.