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CAKE | Restaurant Management System & POS

CAKE Payments Accelerated Funding

What is Accelerated Funding (AF)?

Accelerated Funding is an optional funding program CAKE Payments merchants can opt-in for that allows merchants to receive funds as soon as the next business day.

 

Who can signup?

Any Cake Payments merchant is eligible for Accelerated Funding.

 

What is the cost?

Accelerated Funding is just $25 per month. There is no fee per batch or monthly commitment or contract.

 

What about WorldPay merchants?

If you are a WorldPay merchant, please reach out to CAKE Support to discuss how to get this service activated for your account.

 

What is the batch cutoff time to qualify for Accelerated Funding?

In order to receive your funds the next business day, you must close cash before the Accelerated Funding cutoff which is 6:30 PM Eastern Time.

 

I forgot to close-cash before the AF Cut-off. Can I still get my funds the next day?

No. If the cut-off is missed, you will not be eligible for Accelerated Funding for that day. You will get the funds according to the "normal" funding schedule.

 

I am using Cake Payments for both POS and E-Commerce transactions. Do I get Accelerated Funding for both?

Accelerated Funding is for in-store POS transactions only. 

 

I usually close-cash twice a day. 2:00PM ET and 8:00PM ET. How will Accelerated Funding work for me?

Only 2PM close-cash batch will be paid out as Accelerated Funding. 8PM will be batched normally.

 

I usually close-cash twice a day. 11:00AM ET and 4:00PM ET. How will Accelerated Funding work for me?

Both these batches qualify for Accelerated Funding.

 

My batch is amount is only $20. Will I get paid out as Accelerated Funding?

Payouts must meet the minimum ($50) to be eligible for funding.

 

What is the payout schedule for Accelerated Funding?