X has officially introduced another new service, and it is a new financial service called X Money. The company is rolling out the new service to X Premium and Premium+ subscribers in the US. So let’s get into the article to check out the details.
Everything about X Money
The new service of the company will be combining banking features, peer-to-peer payments, and a Visa debit card with the X app. The company will offer offline benefits including:
Free, instant transfers on X
Up to 6.00% APY
3% cashback on eligible purchases with the X card
Early direct deposit- up to 2 days before your normal payday
Wires, checks, and free ATM withdrawals
Fast, dedicated support when you need it
It is worth mentioning that every X Money user will be receiving a virtual X Card which can be added to Apple Pay through Apple Wallet, and the new service also supports Google Pay. The company will also enable subscribers to order a physical metal Visa debit card, customise how their name appears on the card, and choose whether to display their X username.
The X Card can be used anywhere Visa is accepted, and there will be no foreign transaction fees on this card. It is also confirmed that the account is secured with passkeys for safe and fast authentication. You guys will be able to set custom limits and require authentication for the transactions.
It is also revealed that every card’s transaction is protected by Visa’s security and risk management capabilities. Deposit accounts are held at Cross River Bank, Member FDIC, and insured up to $250,000. Deposits are automatically enrolled in a Cash Sweep Program.
The company has also confirmed that everything will be private, and you can also choose to share certain transactions on the X timeline; this particular thing is optional.
X Money has already started to roll out to X Premium and Premium+ subscribers (18 or older), and eligible users will see the “Money” tab in their sidebar on the X app and X.com. It is also revealed that new users joining the service may receive a $15 welcome deposit.
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