X launches X Money banking service nationwide in the US — 6% yield, metal Visa card
X (formerly Twitter) has rolled out X Money nationwide to US Premium and Premium+ subscribers — bundling a deposit account, P2P payments, and a metal Visa debit card into one app with 6% annual yield on deposits, a concrete step forward for Elon Musk's long-promised "everything app."
X Money had been running as an invite-only beta for select users before its full US rollout to Premium and Premium+ subscribers on July 27, 2026.
The core offering bundles a deposit account, peer-to-peer payments between X users, and a virtual or physical metal Visa debit card (the "X Card") into a single app. Deposits earn 6% annual yield, card purchases earn 3% cashback, and there are no foreign transaction fees or ATM withdrawal fees.
Deposits are held by Cross River Bank, a New Jersey-based FDIC member, insured up to $250,000 per depositor under standard coverage. Premium+ subscribers can use the X Cash Sweep Program, which spreads deposits across multiple partner banks to extend protection up to $10 million.
There's no direct read-through to Tesla's stock, but Musk's other venture rolling out a real, nationwide banking product is a data point on execution across his broader ecosystem — worth watching for any future tie-in with Tesla's own app or in-car payments.
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