I assumed the low price was due to it being just a valve with two pockets. This is actually due to the build quality. The wallet is primarily made of faux leather wrapped around cardboard, with two pockets, one of which is Velcro. The velcro tab on one side is quite annoying as it prevents easy access to the cards. That might be fine for a dummy wallet, but it was too cheap and not comfortable enough for me for everyday use.
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