Update 9/23/26: X Premium or Premium Plus is no longer required. Hat tip to SawyerMerritt
Update 9/22/26: Looks like the exclusion list for the 3% on debit card purchases has been expanded. Following have been added:
- Utilities
- Wholesale Clubs
- Jewelry Stores, Watches, Clocks, and Silverware Stores
- Insurance Underwriting, Premiums
- Colleges, Universities
- When no MCC is present transactions
Current list here. Wayback August archive here.
X Money has finally launched to all Premium & Premium+ X.com (formerly Twitter) subscribers. This post is designed as a more thorough review of the features, please keep discussion in the comments to the product itself as I think the back and forth regarding Elon Musk’s political leanings has been covered enough in other threads. Realistically you’re unlikely to change anybody’s mind anyway.
6% APY/$300 Bonus
- One of the main perks of X Money is 6% APY. To receive this you must have an active Premium or Premium+ account and receive a qualifying direct deposit of $1,000+ (Premium+ don’t need to meet the direct deposit requirement).
- New York residents are not eligible for the 6% APY, instead they are eligible for a $300 bonus when you receive $3,000 in direct deposits.
3% Cashback
X Money debit card earns 3% cash back on most purchases. You can find a list of exclusions here. You can find previous discussion here. 9/22/26 additions:
- Utilities
- Wholesale Clubs
- Jewelry Stores, Watches, Clocks, and Silverware Stores
- Insurance Underwriting, Premiums
- Colleges, Universities
- When no MCC is present transactions
Sign Up Bonus
You are supposed to get $25 when signing up, but there are reports of some people only receiving $15.
Fees
- The main fee you will pay is for Premium/Premium+. Premium is $8 per month/$84 per year and Premium+ is $40 per month or $395 per year. Although discounts seem frequent. Reminder that basic X membership doesn’t qualify you for X Money.
- No foreign transaction fees
Our Verdict
It’s difficult to determine a break even point compared to other accounts because of the varying prices of Premium and the fact that both the 3% debit earning and 6% APY are attractive. If you have $10,000 in the account earning 6% you’d earn $600 in interest or $516 after the $84 fee. That works out to be an APY of 5.16% and that would be the top high yield rate but do keep in mind you need the monthly direct deposit so probably more accurate to compare to other high yield rewards checking accounts.
F.A.Q’s
Does X Money Offer FDIC Insurance?
Yes, deposits are held by Cross River Bank, Member FDIC. Note that this is pass through insurance. More discussion here.
What happens if I cancel my Premium or Premium+ account?
You keep your account but your X Money account drops to the base/standard tier. This means the APY drops from 6% to 4%
Why is NY different to other states?
Because it doesn’t hold a required state money transmitter license from New York regulators.
If I fund with a credit card, is it a cash advance?
Yes.
I have premium/premium+, I still can’t sign up?
Despite advertising it’s available to all premium/premium+ members some people are unable to sign up. Not sure why, you can try to contact X to see if they will fix the issue.
I just signed up for X Premium, I don’t see the option to sign up for X Money?
Suspect it is the same issue above, not sure how long it takes to become available to new users.
What codes as a direct deposit?
X Money define it as:
Qualifying Deposit is (i) a direct deposit received via the Automated Clearing House (“ACH”) with SEC code = PPD or (ii) an X Creator payout from Original Content Rewards, Creator Revenue Sharing or Creator Subscriptions .
You can see what has/hasn’t worked for other readers in the past here.
For those that ordered the physical debit card, 1. How long did it take from the order request day to when the card was created and shipped ? 2. What was the total time it took to arrive to your house (Like 1 week or 1.5 weeks)?
The $15 sign up bonus comes from signing up from X Money and not from subscribing to X Premium. You are misreading something here.
Good to know that Cash App qualifies for DD.
I am curious about this too. I only read of Current and Chase Biz Checking. Hopefully the DD page is updated.
Sounds like it’s best to always push the money into X Money account from external account and not pull money from external into X money.
My eyes glazed over the $300 SUB being for NY residents only.
I am thinking about doing the same. Make sure you order the metal physical card while you still have Premium access because it is $25 without premium.
I purchased the $4 Premium trial and got access to Money instantly. $15 welcome bonus.
If you have one of those grocery stores that lets you buy MO on debit this is a no brainer.
With fed rate going up another 0.25% in October and maybe again in December I don’t see why the 6% couldn’t last until the start of next year.
If I remember correctly, I deleted all cookies and cache-less refreshed the page. I had to login back into x (with username and password) and when I went to x money, it asked me to create a passkey and Chrome password’s manager came up automatically.
When you disable Bitwarden, what are the exact steps to force Chrome’s Password Manager to save and look up the X passkey on desktop? I cant activate my card due to that stupid passkey..
So far, what count as DD? I know current, what else?
Why is it nonsensical, foolish, and useless? Go cry about it on Twitter. You’ll fit right in.
How so? Isn’t the mcc excluded?
Robinhood is wait list only
Just think of it as a CD that you don’t get to decide the term length for
I am a premium member from a month, dont see the tab yet.
There are alternatives for those who for obvious reasons don’t want to support this but want the features. OnPath Credit Union has a high-yield checking account paying 6% on up to $10k. You can open two accounts so realistically you can get that interest rate on up to $20k. You qualify through debit card purchases and don’t need DD. https://www.beonpath.org/spend-save/checking-accounts/personal#rewards-high-yield-checking Robinhood Gold offers 3% cash back and it is an actual credit card, not debit. Keep in mind you can’t really do chargebacks and get no float on debit. https://robinhood.com/creditcard/
Rate is 4% without premium.
What aggregators if any work for this X money account? Doesn’t seem like credit karma does currently unless I’m missing something
Also, Cash App has two positive DP’s… Apparently the changing of the 6% APY isn’t instant and might take hours…. go figure.
There are too many gotcha-type details with this card. Just look at the excluded MCCs. To me, a far simpler solution would be to keep a Fidelity ATM card on a checking account that’s earning about 3.3% on Cash balances and a Fidelity 2% cash back credit card. I doubt this card ends up netting much more. Maybe someone leaves money on the table but, for the average person, the amount seems inconsequential.
https://x.com/SawyerMerritt/status/2102957291645391104
I signed up for premium last week for half off first 2 months and got $15. Any reason to not cancel besides a few atm perks (already received metal card)? I’ll get 3% cb by keeping the DD requirement.
It says – anything marked PPD
As mentioned in the post details the $300 is for NY residents only.
I didn’t see the 300$ bonus on the link. Is it still active?
Regular users don’t get a metal card, free wires and ATM withdrawals, and only a $5 SUB. https://money.x.com/en/i/faq
Premium and Premium+ users earn up to 3% cashback on eligible purchases with the X Card. All other users earn 1% cashback, and may be eligible for boosted cashback up to 3% when Qualifying Direct Deposit requirements are met.