X Money has officially launched as a financial services platform for U.S. The rollout follows an invite-only beta phase and introduces deposit accounts, peer-to-peer payments, and debit cards directly inside the social media application formerly known as Twitter.
Account Features and Financial Partners
The newly introduced financial venture integrates with both Visa and Apple Wallet, allowing users to access their funds digitally or through a physical metal debit card that features personalized X handles, according to platform disclosures. While X Payments LLC is not an FDIC-insured bank, user deposits are held at Cross River Bank, which is a Member of FDIC, ensuring that customer balances maintain federal insurance coverage up to standard limits.
Account holders can access several financial perks through the service, including up to 6.00% APY, 3% cashback bonuses, no foreign transaction fees, and early direct deposit access. The specific interest rate applied to an account depends on factors such as the user’s X subscription tier and regular deposit activity, while certain transactions remain excluded from cashback rewards.
Platform Expansion Strategy
Access to the financial platform remains restricted to paying subscribers in the United States who meet the minimum age requirement of 18. The company has not yet announced a timeline for expanding X Money to standard, non-paying users or to international markets outside the United States.
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