X It has taken a step further in its X Money rollout by expanding the tool to include upper-tier members of the social media platform’s premium subscription service.
“Today, we are issuing X Money to a subset of the US Premium+ For users to collect feedback and resolve issues before a wider launch. Dhruv Bhaturapresident of X Money, said on Thursday (June 25). mail On X.
Benji TaylorHead of Design at X and xAIshared a welcome in-app preview video for X Money on Thursday mail On X he added that X Money “really has a lot of great features and perks.”
According to the video, X Money includes accounts for daily spending, saving, sending, and other functions; Custom metal Visa Debit card with free ATM withdrawals and no foreign transaction fees; The ability to “pay anyone, in any way,” including paying rent, sending a telegram, mailing a check, or paying friends; The ability to earn interest on deposits, with no minimum balance.
X Money is secured with passkeys, and account holders’ funds are automatically enrolled in the X Cash Sweep program which provides access to up to $10 million in Federal Deposit Insurance Corporation (FDIC). insurance. Deposits are kept in Cross River Bank, Member FDIC.and other FDIC-insured institutions, according to the video.
When X announced its plans for the X Money payment system in January 2025, PYMNTS reported that converting Super app has long been a target of Elon Musk. The report said that the introduction of X Money aims to seamlessly integrate financial services into the social media experience.
Later in January 2025, X announced that Visa had become the first partner for the X Money account and that the partnership would allow “secure + instant funding” to Peer-to-peer paymentsIt will give users the option to instantly transfer money to their bank accounts.
It was reported in April that X Money was getting closer to reality and that Early testers The platform mentioned perks like 3% cash back on eligible purchases and a 6% interest rate on cash savings.
