X Money has started offering its financial services to US Premium and Premium+ subscribers, introducing deposit accounts, instant transfers, and a Visa debit card within the social media platform itself. This rollout marks the first time a US social network integrates banking features natively.
Users can now earn annual yields as high as 6% on deposit accounts, while transfers between X accounts come with no fees. Purchases made with the X Card, which functions as a Visa debit card linked to the account, qualify for 3% cashback. Free ATM withdrawals are also part of the package.
Banking meets social media
The service allows subscribers to receive direct deposits up to two days early and supports wire transfers and check deposits. Dedicated customer support is provided to users, adding to the convenience of a fully embedded financial ecosystem.
Behind the scenes, Cross River Bank provides the regulated banking infrastructure. It safeguards customer deposits, connects to payment networks, and manages compliance. Deposits at Cross River carry FDIC insurance up to $250,000. also X Money offers a cash sweep program dispersing funds across multiple insured banks, extending FDIC coverage to eligible users for up to $10 million.
X Money doesn’t yet support Bitcoin, Dogecoin, or any other cryptocurrencies. The company has not announced plans to bring this service to free users or markets outside the US.
