X Money App Launches for Premium Subscribers in the US
X is making good on its promise to turn Twitter into an "everything app" with the rollout of X Money, a new app for paid subscribers in the United States. The app offers a range of financial services, including a Visa debit card and peer-to-peer transfers.
Key Features of X Money
X Money users can add their Visa debit card to Apple Pay for instant transfers within the app, with no fees or limits. They will also receive a physical Visa debit card that has no foreign transaction fees and offers free cash withdrawals at worldwide ATMs. The app is available to X Premium and Premium+ subscribers in the United States.
X Money Benefits for Users
- Eligible users can earn up to 3% cash back on certain purchases
- Users can access their money a few days early if they link a direct deposit to their X Money account
- Premium+ users can earn 6% APY on their balance
A Decades-Long Dream for Elon Musk
The release of X Money reflects a decades-long dream for Elon Musk. In 1999, he founded X.com as a financial services startup, which later merged into PayPal. When he acquired Twitter in 2022, Musk changed the name of the platform to X and repurchased the X.com domain name.
X Money's Ambition
The rollout of X Money is part of Musk's ambition to turn Twitter into an "everything app." By offering a range of financial services, X is positioning itself as a one-stop-shop for users looking for a comprehensive suite of tools and features.