Different Types of Wallet
As you have probably seen, there are many different types of wallet. From the standard and billfold wallets to phone and wrist wallets, each has its advantages and vary in size, purpose and function. Below are common examples of contemporary wallets:
People are often confused by the difference between a "wallet" and a "billfold", and aren't they the same thing? Basically, yes they are, a bill-fold is what we would now associate with the term “modern wallet”. But in fact, a wallet is generally a case with a single pocket to put “stuff” into- not always cash but often receipts, parking and railway tickets etc etc..
A billfold on the other hand is a small foldable wallet with multiple slots for items such as ID, credit cards, business card, photos and paper money. As it is one of the most popular wallets for men, perhaps due to its compact size and variety of pockets to store many items, the bill-fold is available in a variety of shapes, sizes and styles and may also contain an ID compartment. Money is folded and credit or business cards may be stored either horizontally or vertically. Tri-fold wallets are also available where the wallet is folded twice instead of just once and cards are stacked in an upright line.
Phone Case wallet:
Phone Case wallets are becoming increasingly popular with roughly 75% of the world’s population now owning a mobile phone. Essentially, it is a phone case that doubles up as a wallet – with slots for cards and paper money inside the cover – to lighten your load. Whilst these don't allow you to store a lot in them they provide a practical alternative to a standard wallet by combining two products into a compact multi-functional case and allows you to keep all your essential items in one place. Previously designs for this types of wallet have been unfashionable and bulky, however as the demand is increasing, they are rapidly being developed to be stylish and practical with an ever increasing range of colours and designs appearing for the most popular smartphones such as the Apple iPhone 4, 4S and Galaxy S3.
Other types of wallet:
Aside from the common examples, there is a wide variety of functional alternatives. Breast wallets are popular with business men, where bank notes and cheques are not folded and have a slim, lightweight design to slip into your jackets front pocket. A zip-form of a breast wallet is also available, generally for women, but tends to be a little bulkier to hold many items and to be stored in a handbag.
A Travel Wallet is generally large with the purpose of holding important documents such as passports, tickets, itineraries and so on as well as the usual items like money, credit or business cards and photos.
Wrist wallets are a lot smaller with a limited storage capacity. This wallet can be strapped to ones wrist to keep hands free and store essential items. Some Phone Case Wallets, such as the FZ Manhattan Full Leather Wallet Case for the iPhone 4 and 5 offer a detachable strap to enable it to double as a wrist wallet.
Another example is the ID wallet, a thin card holder with clear compartments to hold ID cards and tickets. However many will also have another compartment to hold other items, hence you will often find an ID wallet within a standard wallet for its practicality.
A zip-around wallet is a popular style for women, in a variety of sizes and styles this wallet or “purse” has many compartments to hold credit cards, photos, paper money and coins, as well as clear compartments for ID cards.
Wallet bands are often used to secure all the items in place; it is basically a long continuous elastic band.
However in future generations we may not see any these and instead use a digital wallet, a computer file to store digital money whether embedded in a iPhone, a Galaxy or on a Wireless Credit Card.