X shifts US creator payouts from Stripe to X Money

X’s post said creator payouts will also count towards X Money users’ direct deposit requirements to receive the service’s better APY rate. Currently, the service’s website says X Premium users will get a boosted 6% rate, compared to the standard 4% rate.

In addition, X will issue a 1099-NEC for individuals receiving creator payouts. For LLCs, X will collect the organization’s W-9 information to ensure the 1099s are accurate, the company noted.