Key facts
- X, formerly Twitter, has launched a banking service called X Money.
- The service is available to US Premium and Premium+ subscribers.
- X Money offers features such as P2P transfers, a Visa debit card, and up to 6% APY.
- The service is invite-only and allows users to send cash to one another.
X, the social media platform formerly known as Twitter, has launched its banking service, X Money, for users in the United States. Initially available to Premium and Premium+ subscribers on an invite-only basis, the service aims to transform X into an 'everything app'.
X Money offers a range of financial features, including peer-to-peer (P2P) money transfers and a Visa debit card. Users can also earn up to 6% annual percentage yield (APY) on their funds. The service emphasizes instant P2P transfers and has stated there are no foreign transaction fees associated with the debit card.