X Money combines a dollar wallet, a Visa debit card, and an interest-bearing deposit account inside the X app, with banking infrastructure and FDIC-insured deposit accounts provided by Cross River Bank. Since its broader U.S. rollout, X Money has offered subscribers free instant transfers to other X users, up to 6% APY on deposits, 3% cashback on eligible purchases made with the X Money Visa card, early access to direct deposits, wires, physical checks, and free ATM withdrawals.
X Money conducted a proof of concept test with Pinwheel in 2025 as they worked to select their deposit switch launch partner. Underscoring Pinwheel’s position as the industry’s top converting deposit switch, Pinwheel delivered 30% more switches than other technologies evaluated.
With this partnership, Pinwheel becomes the connectivity layer that helps X Money users fund their account and begin taking advantage of the many X Money benefits. Pinwheel has been powering the direct deposit experience for X Money users in the U.S. since their public launch, July 27, 2026.
"X Money is entering the market with real banking infrastructure and a massive built-in audience, seeking to deliver the world’s best personal financial experience" said Jaimeson Rice, CEO of Pinwheel. "We built Pinwheel to handle exactly this kind of scale and complexity, and we're glad to be the connectivity layer behind that experience for X Money."
