Elon Musk's X Money adds a $150,000 cap to its 6% rate
X Money just added a cap to its top savings rate.
The short version
- You can earn 6 percent APY up to $150,000 starting December 1, 2026.
- The debit card still pays 3 percent back on most purchases.
- Cross River Bank holds the deposits with pass through insurance.
Why it matters to you. If you keep $10,000 in the account, you would earn $600 in interest before fees.
Check your balance if you use X Money, the financial feature from X, which is the social media network owned by Elon Musk. X Money just added a cap of $150,000 to its 6 percent annual percentage yield starting December 1, 2026, according to Doctor of Credit.
The account launched recently for subscribers and pays 3 percent cash back on most debit card purchases. Deposits in the account are held by Cross River Bank, a New Jersey lender that is a member of the Federal Deposit Insurance Corporation, providing pass through insurance.
You also need a qualifying direct deposit or creator payout to get the top rate. If your account drops to the standard tier, the annual percentage yield falls from 6 percent to 4 percent.
The service is currently not available to users in New York because it lacks a state money transmitter license. For anyone holding cash in the app, the new cap means large balances will earn less once December arrives.
Photo: Steve Jurvetson, CC BY 4.0, via Wikimedia Commons, AI-edited
