The main reason I prefer magnetic money clips is that they are soft. Putting it in the same pocket as my phone will not scratch the screen. The biggest downside to magnetic money clips is their inability to hold a thick wad of money. The right amount of $10 and $20 bills can quickly become a big stack. of 5 dollars and 1 dollar. Magnets are not for long-distance relationships. Aside from being reasonably priced as shown in the picture, this clip is almost the size of the folded bills it holds. These large magnets easily hold 1/4" thick bags. I don't carry large amounts of cash, but I like to have lots of two dollar bills to tip my servers. This monstrous clip allows me to hang next to my " Pocket money" easily take a week's supply with you.
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