Elon Musk’s X has started rolling out X Money, a new financial service that lets users hold money, send payments, and use a Visa debit card without leaving the social media platform.
The service is currently rolling out to X Premium and Premium+ subscribers in the US after previously being tested with a smaller group of users. It is unclear if or when X Money will reach users outside the US.
X Money is another step toward Musk’s long-running plan to turn X into an “everything app” that combines social media with payments and other services.
Send Money Directly on X
X Money allows users to instantly send, receive, and request money from other people on X.
The service also includes a deposit account that can be used for everyday financial tasks such as paying bills, sending wire transfers, and mailing paper checks.
Users can set up direct deposit for their salary, with eligible payments arriving up to two days before the usual payday.
X says transfers between users on the platform are free.
Your money, on the world’s most powerful network
𝕏 Money is rolling out to U.S. Premium and Premium+ subscribers starting today pic.twitter.com/2c1UMkB4Kn
— X Money (@XMoney) July 27, 2026
6% Earning Per Year
X Money offers up to 6% annual percentage yield, or APY, on eligible balances.
APY refers to how much interest an account can earn over a year.
Premium+ subscribers are eligible for the 6% rate, while Premium subscribers can reach the same rate after meeting qualifying direct-deposit requirements.
Deposit accounts are held by Cross River Bank, which is a member of the Federal Deposit Insurance Corporation.
Standard deposits held at Cross River Bank are FDIC insured up to $250,000 per depositor. X also advertises coverage of up to $10 million through its cash sweep program, which distributes eligible funds among participating banks.
X Card
X Money also includes a Visa debit card called the X Card.
Users receive a virtual card and can also order a physical metal version.
The card offers 3% cashback on eligible purchases. This means users can receive 3% of the amount spent back when a purchase meets the program’s requirements.
X also says the card offers free ATM withdrawals and does not charge foreign transaction fees.
The X Card can be added to digital wallets including Apple Pay and Google Pay.
Security Features
X Money accounts use passkeys for authentication instead of relying only on traditional passwords.
Users can set their own transaction limits and require additional verification for selected payments.
Visa’s security and risk-management systems also cover transactions made with the X Card.
Musk’s Long-Term Everything App Plan
Financial services have been part of Musk’s plans for X for several years.
Before becoming involved with the social network formerly known as Twitter, Musk founded an online financial company called X.com in 1999. It later merged with Confinity, and the combined business eventually became PayPal.
Musk has repeatedly said he wants the current X platform to handle much more than social media, including payments and other financial activities.
X Money initially went through a limited testing period before the wider rollout to Premium subscribers.
The company plans to expand access further, although availability remains limited to the US for now.
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