Elon Musk Launches Invite-only X Money with a Visa Debit Card, 6% Yield and Real-Time Transfers
X Money adds deposit accounts, peer-to-peer payments and a Visa debit card as Elon Musk pushes X toward an everything app.
- Elon Musk's social media company X launched a banking service called X Money, allowing users to send money in real-time and receive a Visa debit card.
- X Money offers a 6% yield on deposits of $1,000 or more and 3% cashback on eligible purchases, but users must pay at least $8 per month for X's premium services.
- X Money utilizes banking services from Cross River Bank and competes with services like Venmo, Zelle, and Cash App in the peer-to-peer money transfer market.
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99 Articles
Elon Musk's social network X, formerly known as Twitter, launched its own similar product to a bank account, with which users can send money to each other.
Elon Musk launches invite-only 'X Money' with Visa debit card: Check benefits and key details
Elon Musk has launched X Money, an invite-only financial service on X featuring a Visa debit card, real-time transfers, 6 per cent deposit yield and cashback rewards. Here's how the platform works and what it means for users.
Spectrum Local News
Elon Musk launches invite-only X Money with Visa debit card
Users of X will be able to send money to other X users in real-time.
Musk's X Launches Venmo-Like Money Transfer Service
The Associated Press reports: Elon Musk’s social media company X, formerly known as Twitter, launched its own bank account-like product where users can send money to one another. The service, known as X Money, is not a new bank. X Money is using technology and banking services provided by Cross River Bank, and branding that backbone as X Money. It is common for new financial companies to use a traditional bank’s backbone to launch its services, …
Associated Press News
Elon Musk launches invite-only X Money with a Visa debit card, 6% yield and real-time transfers
Elon Musk's social media company X, previously Twitter, has launched X Money, a bank account-like service for users to send money to each other.
Tech entrepreneur Elon Musk's X online platform has launched its own banking and payment service in the US. "X Money" has been available since Monday to all users who have signed one of the premium or premium+ subscriptions, as the company announced.
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