X has opened its Money feature to a wider group of subscribers in the United States after a period of limited testing. The service is now available to X Premium and Premium+ users and packages a deposit account, peer-to-peer transfers, and a Visa debit card inside the existing app and website. Accounts are held at Cross River Bank rather than by X itself, a structure common among fintech products that prefer to partner with an established lender instead of seeking a full banking charter.
Eligible users find a Money tab in the sidebar once the latest version of the app is installed. From there the onboarding process is relatively short. Premium+ subscribers can earn up to 6 percent annual percentage yield on deposits, while standard Premium users may reach the same rate depending on the size of their balance. Purchases made with the linked card return 3 percent cash back on eligible transactions. A virtual card can be added to Apple Pay, and a physical card is also available; cardholders can choose whether their X username appears on the plastic and how their legal name is displayed. Round-the-clock support is included with the account.
The launch continues X’s effort to expand beyond short-form posts into payments and basic banking services. Similar experiments by social platforms have produced mixed results in the past. Some attracted users with high introductory yields only to face higher operating costs or regulatory questions once the product scaled. Tying the most attractive rates to a paid subscription further narrows the potential audience and raises the practical cost of using the feature. Depositors must also accept that their funds sit inside an ecosystem whose primary business remains content distribution and advertising, not financial services.
Cross River’s involvement provides the necessary banking license and deposit insurance, yet it does not eliminate the usual risks that come with any new digital account: operational glitches during the early rollout, delayed customer-service responses under load, or changes to terms once the promotional period ends. The ability to move money between friends on the same platform may prove convenient for some, but it also concentrates more personal financial activity inside a single company whose moderation policies and technical reliability have drawn public scrutiny for years.
For now the product remains limited to United States residents who already pay for Premium access. Whether the combination of yield, cash back, and social integration is enough to keep balances growing will depend less on the initial marketing claims and more on how consistently the service performs once the invite-only phase is fully behind it.
