Did You Know RAL's...

The only other form of Direct Deposit, besides those made to qualifying accounts of eligible financial institutions, are those that are opened in the process of applying for a Refund Anticipation Loan. Once popular, nowadays these programs have been discontinued by most financial institutions while it has remained a profitable product for large tax preparation franchises, whom often charge a hefty fee for advancing you the refund.

If the purpose of opting for an RAL is to receive your refund faster than you would by mail, consider opening a prepaid card from greendot.com, if you haven't already tried opening a bank account. In 2013, the IRS was processing refunds with direct deposit within 10 business days. Current statistics indicate that the IRS will process 9 out of 10 tax returns in less than 21days. The most you'll wait is 21 days but it's likely that you'll receive your refund within two weeks. If it can wait, why not save the fee of opening an RAL?