Only Premium and Premium X subscribers get the privilege of banking with Elon for now.
X The latest development out of the social media network formerly known as Twitter is a financial services platform dubbed X Money . The service is currently available for the social media network's Premium and Premium+ subscribers in the US over the age of 18 following an invite-only beta phase.
Your money, on the world's most powerful network
𝕏 Money is rolling out to U.S. Premium and Premium+ subscribers starting today pic.twitter.com/2c1UMkB4Kn
X Money offers customers a deposit account, peer-to-peer payments and a debit card within the app. The venture has integrations with both Visa and Apple Wallet. The debit card is available digitally and as a physical, metal version that can be personalized with the individual's X handle. Other perks include up to 6.00% APY, 3% cashback bonuses, "no foreign transaction fees" and early direct deposit. The interest rate you receive depends on factors like your X subscription tier or regular deposits , and, as with many similar schemes, there is a list of services excluded from cashback. Although X Payments LLC is not an FDIC-insured bank, deposits are held at Cross River Bank, which is a Member of FDIC and so balances are insured .
We knew that a payments app was in the works from X, just one of many initiatives the company is working on in pursuit of becoming an " everything app ." Not sure who would entrust their money to a platform run by this guy and centered on this AI chatbot , but if you so desperately want to, the option exists.