A refund anticipation loan (RAL) is a short-term loan based on an expected tax refund. If you are anticipating a refund, a RAL allows you to take out a loan or to borrow against your anticipated refund. Upon approval, you receive your money in a check or on a debit card, no bank account is needed. Your RAL is paid back with your refund. All fees are factored into the loan amount, so that there is no out-of-pocket payment required.