X is rolling out its long-awaited X Money service to paid subscribers in the United States, bringing payments, peer-to-peer transfers and a Visa debit card directly into Elon Musk's social media platform.
Eligible users receive an X Visa debit card that can immediately be added to Apple Pay. X Money also supports instant transfers within the app without fees or transaction limits.
Customers will receive a physical X Visa debit card as well. According to X Money, the card does not charge foreign transaction fees and offers free cash withdrawals at ATMs worldwide.
X Money offers 6% APY to eligible subscribers
X Premium+ subscribers, whose plans cost $40 per month or $395 annually, can qualify for a 6% annual percentage yield. Premium subscribers paying $8 per month or $84 annually can also access the 6% rate by linking direct deposit to their X Money account.
The service says customers can receive up to 3% cash back on qualifying purchases. Users who set up direct deposit may also be able to access deposited funds several days earlier.
X Money advances Musk's everything-app strategy
The launch brings Musk closer toMusk’sancial services ambition, stretching back decades. In 1999, he founded X.com as an online financial services company. The business later became part of PayPal.
After acquiring Twitter in 2022, Musk eventually renamed the social network X and has repeatedly described plans to transform it into an "everything app" combining social networking with other services.
Adding financial accounts, payments and debit cards represents a major step toward that goal, expanding X beyond social media as the company seeks to make financial services a core part of its platform.
