Social media platform X has introduced X Money, a new digital financial service available to paid subscribers in the United States, marking another step toward Elon Musk’s vision of transforming X into an all-in-one platform that combines social networking with financial services.
The newly launched service provides users with a Visa debit card that can be linked directly to Apple Pay, allowing purchases and instant peer-to-peer money transfers between X Money accounts. According to the company, these transfers are completed without fees or transaction limits.
In addition to the virtual debit card, subscribers will also receive a physical Visa debit card. X says the card offers no foreign transaction fees and includes free cash withdrawals through participating ATM networks in multiple countries, expanding its usability for international travelers.
The platform is also introducing savings-related incentives tied to its subscription plans. Premium+ subscribers, who pay $40 per month or $395 annually, will earn an annual percentage yield (APY) of 6% on eligible balances.
Meanwhile, Premium subscribers, priced at $8 per month or $84 per year, can qualify for the same 6% APY after linking their direct deposit to an X Money account. The feature is designed to encourage users to make the platform part of their everyday financial activity.
X Money also includes a cashback program that offers up to 3% on selected purchases. Users who enable direct deposit may receive incoming funds several days earlier than standard processing times, providing faster access to their money.
The rollout of X Money reflects Elon Musk’s long-term strategy of expanding X beyond a traditional social media platform. By integrating digital payments, banking-style services, and financial rewards into a single ecosystem, the company aims to increase user engagement while competing in the growing digital finance market.
The initial launch is limited to paid users in the United States, with no announcement yet regarding expansion to additional countries.
