Well-known investor Sawyer Merritt posted on X on June 30 with a screenshot, revealing that X Money has announced complete limit specifications for transfers, deposits, withdrawals, and the X Card. Users can apply for higher limits. X Money has expanded services to Premium+ subscribers, offering 6% annual percentage yield (APY) on eligible balances, with no cap, no lock-up period, and no minimum balance requirement.
X Money Complete Transaction Limits: Wire Transfer Daily Limit $75,000, X Card Daily Limit $25,000
(Source: Sawyer Merritt)
According to the screenshot disclosed by Sawyer Merritt, regarding transfers: no limit for transfers within the X platform; wire transfer daily limit $75,000, every 30 days $250,000; checks daily limit $40,000, every 30 days $75,000. For X Card: card spending daily limit $25,000, cash withdrawal daily limit $2,000.
For deposits: bank card no limit; checks per transaction and daily limit $20,000, every 30 days $45,000; cash daily limit $990, every 30 days $4,500. For withdrawals: bank card daily limit $5,000, every 30 days $15,000; check per transaction limit $25,000. The above limits apply to Premium+ users. X says users can apply for higher limits.
X Money's Core Function Specifications and Service Status
X Money is a financial service product developed in partnership with Visa. The currently disclosed specifications are as follows:
6% APY: Applies to eligible X Money balances, no cap, no lock-up period, no minimum balance requirement
3% Shopping Cash Back: Applies to X Card spending transactions
Zero Foreign Transaction Fee: No additional fees for international transactions
Metal Visa Debit Card: Printed with user account information
P2P Transfers: No limit within the X platform
X Money currently holds money transfer licenses in 41 U.S. states and Washington D.C., but is not available in New York and Massachusetts.
Cash Distribution Plan: $10 Million FDIC Coverage and Regulatory Status
X Money launches an automatic cash distribution plan, which allocates customer balances across multiple partner banks, allowing a single user to enjoy up to $10 million in Federal Deposit Insurance Corporation (FDIC) coverage. Standard X Money balances are held by Cross River Bank, with an FDIC coverage limit of $250,000 per person.
X Money does not directly hold deposits, but provides services through partner banks, Visa payment channels, and regulated money transfer licenses. Senator Elizabeth Warren has sent a letter to Musk expressing concerns about consumer protection and user fund safety. X Corp plans to fully roll out Premium+ to all X users by mid-2026, but has not yet announced an exact completion date.
Frequently Asked Questions
What are the eligibility requirements and conditions for X Money's 6% APY?
According to the official description disclosed by Sawyer Merritt, the 6% APY applies to all eligible X Money cash balances, with no cap, no lock-up period, and no minimum balance requirement. Specific eligibility criteria have not been fully detailed in X's public statements.
How does the cash distribution plan achieve $10 million in FDIC coverage?
The cash distribution plan disperses customer deposits across multiple partner banks, each with the standard FDIC coverage limit ($250,000), so the total combined coverage can reach $10 million per user. Standard X Money balances are held by Cross River Bank, with a limit of $250,000 per person.
In which states is X Money currently unavailable, and what is the full rollout timeline?
As of June 30, 2026, X Money is still unavailable in New York and Massachusetts. X Corp plans to fully roll out Premium+ to all X users by mid-2026, but has not yet announced an exact completion date.
