X Money and X Card: APY Rules, Cash Back and New York Limits
By Alex Compton · Updated
The October 23, 2026 source check changes the original picture: X Money lists free and paid tiers, while New York residents receive no interest. Here is how the advertised yield and debit rewards depend on your subscription, deposits and purchases.
At a Glance
What changed since our original coverage
Our August article described paid access as necessary and used legacy subscription prices. The current documents include users without a paid subscription. We have removed that old pricing advice. Availability remains limited, so a listed free tier does not guarantee that your account can enroll.
Who can earn the advertised 6% APY?
The current X Subscription Premium, Super and Ultra plans, plus legacy Premium+, qualify for 6.00% APY. Free, Plus, legacy Basic, legacy Premium and no-subscription users start at 4.00% and can reach 6.00% with at least $1,000 in qualifying deposits over the preceding 34 days. These are variable rates, not a fixed return.
- Qualifying funds must arrive as ACH direct deposits coded PPD or eligible X Creator payouts. An ordinary transfer is not automatically qualifying.
- New York residents receive no APY, interest or interest boost. A subscription or qualifying deposit does not remove that restriction.
- New Premium and legacy Premium are different rate tiers. Check which subscription your account actually has.
Cash back has a separate eligibility test
Any paid plan on the current subscription, and legacy Premium or Premium+, can earn up to 3% on eligible purchases. Other users earn 1%, with a qualifying-deposit path to up to 3%. Rewards post weekly after settlement; the terms permit differing rates and caps.
- Excluded merchant categories include utilities, wholesale clubs, insurance premiums, rent, taxes, financial transactions and gambling. Check the full MCC list before making a large purchase.
- Refunds reverse rewards. A merchant category, rather than the name of the item purchased, determines these exclusions.
ATM rebates and optional fees
The FAQ limits other users to rebates of up to $4 per withdrawal for two withdrawals each month. Any current paid plan, or legacy Premium/Premium+, has unlimited operator-fee rebates. The account agreement describes reimbursement more generally; check the tier-specific FAQ and in-app fees before relying on full reimbursement. Instant withdrawals cost 1.75%, with a $0.25 minimum.
What the FDIC claim covers
X Payments is not an insured bank. Cross River Bank provides the account, and the sweep program advertises up to $10 million across participating banks. Coverage requires eligible deposits and ownership records; balances you already hold at a participating bank count toward that bank’s insurance limit. Deposit insurance covers an insured bank failing, not every risk involving the app.
How to decide whether to use it
Start with your state and available tier, then compare the net return after any subscription cost. If free-tier eligibility and qualifying deposits already unlock the advertised rate, buying a subscription solely for interest may add no value. New York users should assess payment features and eligible cash back separately from savings yield. Confirm access before moving payroll.
Before You Open It
- 1Verify that enrollment is available and confirm your subscription version.
- 2Read the current rate and qualifying-deposit rules, including the New York exclusion.
- 3Check merchant exclusions, ATM limits and the app’s fee schedule.
- 4Review where swept deposits will be held and your existing balances at those banks.