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 the service has lots of fees. 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 you use your credit card, a 5% fee is assessed. There is no deposit fee for bank accounts, but withdrawals from QuickTender to a bank account cost $30, which is pretty damn high.

There is no way to get around this flat fee by requesting a check, 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, $30 is a pretty steep price.

Cake has plans to shell 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. based players will be able to achieve a higher rate of acceptance.