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TechX Money app launches in the US for paid subscribers
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X (formerly Twitter) has launched its X Money app for paid subscribers in the United States. The service includes an X Visa debit card that can be added to Apple Pay, enabling instant peer-to-peer transfers without fees or limits. Users also receive a physical card with no foreign transaction fees and free worldwide ATM withdrawals. X Premium+ subscribers ($40/month) get 6% APY, while Premium subscribers ($8/month) can access the same rate by linking direct deposit. The app offers up to 3% cash back on purchases and early access to funds with direct deposit. The launch fulfills Elon Musk's long-standing vision, dating back to his 1999 startup X.com, to create an 'everything app' integrating financial services with social media.
Source report
Author: Amanda Silberling Reading Time: 1 min
X has officially launched its X Money app for paid subscribers in the United States.
Key Features
- X Visa Debit Card: Users receive a digital card that can be added immediately to Apple Pay.
- Peer-to-Peer Transfers: Instant transfers within the app with no fees or limits.
- Physical Card: A physical X Visa debit card with no foreign transaction fees and free ATM withdrawals worldwide.
Subscription Tiers and Benefits
- X Premium+ Users ($40/month or $395/year): Eligible for 6% APY.
- X Premium Users ($8/month or $84/year): Can access the 6% APY by linking a direct deposit to their X Money account.
- Cash Back: Users can earn up to 3% cash back on select purchases.
- Early Access: Linking a direct deposit allows users to access funds a few days early.
Background
The release of X Money fulfills a long-standing ambition for Elon Musk. In 1999, he founded X.com as a financial services startup, which later merged into PayPal. After acquiring Twitter in 2022, Musk rebranded the platform as X and repurchased the X.com domain name.
Since the acquisition, Musk has repeatedly stated his goal of transforming the social platform into an "everything app." The rollout of X Money is a key step in that vision.
Image Credit: X Money
Source
Yahoo FinanceNeutral / independent
Part of this Story
Elon Musk's X Money App Launches in the US for Paid Subscribers