A money clip
is a device typically used to store cash and/or credit cards in a very compact fashion for those who do not wish to carry a wallet
Metal Money Clip
A metal money clip is generally a solid piece of metal folded into half, such that the bills and credit cards are securely wedged in between the two pieces of metal. Metal money clips are typically made out of stainless steel, silver, gold, titanium, or platinum. They are typically sold as luxury items. The chief disadvantage of a metal money clip is that, due to the inflexibility of the metal, it cannot typically hold large amounts of cash. Depending on the design, it may also be difficult to push the bills into the clip.
Magnetic money clip
The magnetic money clip is generally made of two strong flat rectangular or round magnets encased in leather, with a small piece of leather separating the two pieces and allowing them to swivel into a closed and open position. There are also clips made of three magnets and two pieces of leather. A magnetic money clip typically has a greater carrying capacity than a metal money clip and the strongest clips are able to hold up to 15 bills folded in half. Magnetic money clips are not recommended for holding credit cards as the magnets may distort or erase the magnetic stripe.
Money clip wallet
A money clip wallet is a clip designed specifically to hold both credit cards and cash. The conventional hybrids are a credit card holder with either a swivel magnetic clip attached to the back side or a solid plastic clip. These are sometimes known as hybrid money clips.
A binder clip can be used as a hipster money clip.
Rubber band money clip
Another type of money clip is the rubber band variant. The user may group credit cards together while folding the cash into thirds, and wraps the rubber band around the combined stack. As is often the case with such users, credit cards may not be present, so instead the money is rolled into a large roll and the rubber band is then wrapped around the entire roll.
Paper clips have been used to organise banknotes. This type of clip is used by banks and stores, not only individuals. The popularity of this type of clip may be related to its low cost and ease in replacement.
The popularity of money clips may vary between countries. In the United States, all banknotes of different denominations are the same size, but in some countries, the size of banknotes is so variable as to make clipping more difficult. In some countries, particularly the United Kingdom, the use of coins is prevalent, resulting in some people carrying few banknotes.