Only Premium and Premium X subscribers get the privilege of banking with Elon for now.
The latest development out of the social media network formerly known as Twitter is a financial services platform dubbed
. 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.
𝕏 Money is rolling out to U.S. Premium and Premium+ subscribers starting today
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
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
from X, just one of many initiatives the company is working on in pursuit of becoming an ”
.” Not sure who would entrust their money to a platform run by
, but if you so desperately want to, the option exists.