Elon Musk's X Launches Financial Services for US Premium Subscribers, with High-Yield Savings and Visa Debit Card
Elon Musk’s X Launches Financial Services for US Premium Subscribers, with High-Yield Savings and Visa Debit Card #
X, the social media platform formerly known as Twitter, has begun rolling out X Money to Premium and Premium+ subscribers in the United States. It is the first broad public release of a financial services feature that Elon Musk has described as central to his “everything app” ambition for the platform.
The service went live on July 27, with the official X Money account announcing the launch on the platform. Eligibility is limited to US-based paying subscribers aged 18 and over, following an earlier invite-only beta that gave a small pool of testers access to the product.
X Money is operated by X Payments LLC in partnership with Cross River Bank, which provides FDIC-insured deposit protection up to $250,000, and Visa, which powers the debit card and real-time money movement through Visa Direct. The service includes a deposit account for everyday spending and saving, peer-to-peer transfers with no fees, bill payments, wire transfers, and the ability to mail physical checks from within the app. Direct deposits can arrive up to two days early, according to the company.
The savings rate reaches up to 6% APY with no minimum balance requirement. The card offers 3% cashback on purchases and no foreign transaction fees. The debit card is available digitally, with Apple Wallet integration, and as a physical metal card personalized with the holder’s X handle.
The rollout follows a timeline that slipped repeatedly. Earlier targets had pointed to a late 2024 or 2025 launch before limited testing began in 2026. Musk first outlined the payments vision shortly after acquiring Twitter for $44 billion in 2022, citing WeChat’s integrated commerce model in China as an inspiration. Securing money-transmitter licenses across US states and establishing banking and card-network partnerships accounted for much of the delay.
Cryptocurrency functionality is not part of the current launch, despite earlier speculation that digital assets would be included. X has not said when it plans to extend the service to free-tier users or to subscribers outside the United States.
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