Elon Musk has finally launched X Money, taking another big step toward turning X into his long-promised “everything app.”
For now, the new feature is only available to X Premium and Premium+ subscribers in the United States. That means regular users will have to wait before they can try it.
X Money brings banking services directly into the X app. So, instead of switching between different apps, users can now send money, receive payments, and even manage everyday banking from one place.
X Money Offers More Than Just Payments
The new service works like a digital bank account inside X. Users can send peer-to-peer payments, transfer money, and receive direct deposits.They can also send wire transfers, pay bills, and even mail checks. According to X, users with direct deposit may receive their salaries up to two days early.
Another major feature is the X Card, a physical Visa debit card. The card allows ATM withdrawals worldwide and works for in-store purchases. It also supports Apple Pay and Google Pay, making contactless payments easier.
Meanwhile, deposit accounts are managed by Cross River Bank. The bank is FDIC-insured, with deposits protected up to $250,000.
Premium Users Enjoy Bigger Rewards
Subscribers on Premium+ get access to a 6% APY immediately. Premium users can also earn the same rate after meeting the required direct deposit conditions.
The X Card also offers 3% cashback on eligible purchases. Users can withdraw cash from ATMs worldwide without paying withdrawal fees.
These extra rewards make X Money more attractive for people already paying for X’s premium subscriptions.
Elon Musk’s Big Vision Is Finally Taking Shape
The launch of X Money is not a surprise. Musk has talked about adding financial services to X for years.
Before buying Twitter, he created an online payments company called X, which later became part of PayPal. Since then, he has repeatedly shared his dream of building an app that combines social media, banking, shopping, and more.
He once said it would “blow his mind” if X failed to launch financial services before the end of 2024.
After months of testing, X Money is now rolling out to selected users in the U.S. More countries and users are expected to gain access as the service expands.
For Musk, this is more than another product launch. It is another major move toward making X the all-in-one app he has always imagined.
