Cake Poker Offers New Deposit Option

In the wake of the ePassporte drama, Cake Poker notified players last week that it has made a new deposit option available.  The new method, QuickTender, can be used wherever the “UseMyWallet” logo is displayed and is available to U.S. customers. 

QuickTender is an e-wallet, similar to Neteller and ePassporte.  This makes it easy for poker players to deposit and withdraw, not just from Cake, but from any poker room that accepts QuickTender or UseMyWallet.  The big downside to QuickTender for many players, however, is that is fee heavy. 

While it costs nothing to open an account, there are charges once you start using the account, no matter how one loads the account.  If a credit card is used, a 5% fee is assessed.  There is no deposit fee for bank accounts, but withdrawals from QuickTender to a bank account cost $30.  There is no way to get around this flat fee by requesting a check, either, as that costs $30, as well.  Bank wires are free, but the banks themselves typically charge a fee to the account holder.  For high stakes players, the $30 fee shouldn’t be a problem, for lower stakes grinders who want to withdraw frequently, that’s a pretty steep price. 

Word through the grapevine is that Cake has plans to roll out other funding options soon.  These include eWalletXpress, which might go live as early as next week, MoneyGram and Western Union (7-10 days), EFT transfers (withdrawals – 10 days, deposits – 4 weeks).  Cake Poker is also working on enhancing its credit card capabilities so that U.S. customers will be able to achieve a higher rate of acceptance.