X has officially launched its X Money app for paid subscribers across the United States, marking a significant step in the social media platform's expansion into financial services.
The new digital wallet app is available to X's paying subscribers. It pairs a Visa debit card with a range of payment, savings, and rewards features.
X Money Features: Cards, Transfers, and Rewards
Upon enrollment, users receive an X Visa debit card that can be immediately added to Apple Pay. The card supports instant peer-to-peer transfers directly within the X app, with no associated fees and no transfer limits.
In addition to the digital card, subscribers will receive a physical X Visa debit card. According to X Money, the physical card carries no foreign transaction fees and offers free cash withdrawals at ATMs worldwide.
The app also features a cash back program, allowing users to earn up to 3% back on certain purchases. Users who link a direct deposit to their X Money account gain an additional benefit: access to their deposited funds a few days early.
Tiered Benefits for Premium Subscribers
X has structured the app's interest-earning features around its existing subscription tiers. X Premium+ subscribers, who pay $40 per month or $395 per year, are eligible for a 6% annual percentage yield (APY) on their balances.