Review on PITAKA Magwallet: Enhanced Minimalist Modular 🔒 Blocking Men's Wallets, Card Cases & Money Organizers by Luke Cotton

That's exactly what they say, you just have to make sure the degauss aspect is known first. My credit cards (the chip card still has a stripe), health insurance and bonus cards have magnetic strips. Makes this wallet useless to me. Other wallet makers have found magnets that don't interfere with the band.