One of the most popular wallets over recent years has been the magic wallet. These nifty wallets get their mysterious name from the way they secure bank notes. All you do is place the notes on top of the wallet, then fold it over and your cash is magically secured behind the elastic bands. Obviously these wallets are fairly light on for space, they have two card compartments and can fit a small amount of notes. So they are ideal for people that prefer to travel light or as a weekend wallet.