X has officially started rolling out X Money, its new financial services platform, to a limited group of users in the United States. The service is now available to Premium and Premium+ subscribers, marking the end of its invite-only beta. At launch, access is limited to U.S. residents who are at least 18 years old.
The new service adds a deposit account, peer-to-peer payments, and a debit card to the X app. It also connects with Visa and Apple Wallet, giving users the ability to handle payments and manage their funds directly from the platform as X continues expanding its services.
Users can choose between a virtual debit card or a metal card featuring their X handle. The account also comes with perks like up to 6.00% APY, 3% cashback, no foreign transaction fees, and early direct deposits. Just keep in mind that the interest rate depends on things like your subscription tier and account activity, and not every purchase earns cashback.
X Payments LLC doesn’t have FDIC insurance itself. However, customer funds are held at Cross River Bank, an FDIC member bank, so eligible deposits receive standard FDIC insurance coverage.
The rollout of X Money follows years of signals that payments would play a central role in the platform’s future. It’s another move toward turning X into a place where people can do much more than just post and chat.
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