The Wallet Shoppe
We all think we know what a wallet is, but is a wallet the same thing as a billfold? Close, but not quite. Billfold vs wallet - we’ve got you covered!
Both are holders for paper money, credit cards, and other small personal items. So what’s the difference?
Billfold vs Wallet
OK, first things first.
We did a quick check on Merriam-Webster. It defines a billfold as “a folding pocketbook for paper money” and gives “wallet” as the synonym.
Hmm.
The Backstory
Let’s go back in time…
The word “wallet” goes waay back to the 14th century, when it was spelled “walet”. And it didn’t mean what it means now: Merriam-Webster’s first sense is “a bag for carrying miscellaneous articles while traveling.” More knapsack than back pocket.
These days wallets hold paper money, coins, business cards, ID, credit cards, and photos.
That’s called progress, people.
“Billfold” turns up much later. Merriam-Webster’s first known use is 1879. The name says what it does: these newfangled flat wallets held paper money by folding it in half (bifold wallets) or in three (trifold wallets, natch).
Over the years (presumably as the novelty of money that folds wore off) “billfold” fell out of everyday use, leaving “wallet” as the word most people reach for.
So technically, the two words aren’t quite synonyms. Take a long wallet (or breast-pocket wallet): the bills are stored flat, lengthwise, and never get folded. Calling that a billfold doesn’t make much sense. Merriam-Webster’s own wallet entry even says a wallet usually holds unfolded paper money.
Sorry Merriam-Webster - we’re overruling you there.
Drum roll, please. We have our answer:
Are Wallets and Billfolds the Same?
No. Billfold is an old-fashioned word for a wallet that literally folds bills (a traditional bifold or trifold). Wallet is the broader term, so all billfolds are wallets, but not all wallets are billfolds. In everyday conversation, plenty of people use the two interchangeably, and nobody will look at you funny either way.
Billfold Isn’t the Same Word as Bifold
A bifold has two main panels and one fold. A trifold has three panels and two folds. Both are billfolds when they hold paper money.
“Billfold” describes the kind of object; “bifold” describes how it folds. They sound alike, which is why product listings mix them up.
Types of Wallets (and Which Count as Billfolds)
With this in mind, let’s take a look at some of the most popular types of wallets used today. Which are billfolds, and which are not?
Money Clips
A money clip holds folded notes together and not much else. Some designs add a card slot or two, but a clip on its own won’t organize cards like a wallet does.
Verdict: Clearly not a billfold.
Bifold Wallets
The bifold is probably the most recognizable wallet there is. It has two sections and folds down the middle. Paper money is folded once, and there are usually slots for credit cards, ID, and business cards. Some have coin pockets.
Verdict: This is the original, the OG billfold!
Long Wallets
So, what is a long wallet? Basically, it’s a tall bifold that holds banknotes flat. Some fold like a book; others zip closed. Most have plenty of card slots and often a coin pocket.
Verdict: As we said earlier, not a billfold.
Trifold Wallets
A trifold has three sections, usually equal in size. Two folds bring the outer sections to the center, so the paper money gets folded twice, and each section usually has card slots.
Verdict: Yes, it’s a billfold. We don’t recommend them though, as all those overlapping layers tend to make them bulky.
Checkbook Wallets
While most people bank online these days, some still prefer to write checks for some things.
A checkbook wallet looks like a long bifold with extra space for a checkbook. Some add a pen loop. After all, you will need a pen if you write a check…
Verdict: Not a billfold (it’s a type of long wallet).
Travel Wallets
Most of the time you won’t need a travel wallet, which is why it’s sometimes called a “secondary” wallet. But it’s an excellent option for anyone who travels internationally a lot and has to carry a passport. A passport wallet holds the passport plus cards and tickets, so you aren’t juggling two wallets at the gate.
Verdict: Usually not a billfold (typically a long wallet built around the size of a passport).
Minimalist Wallets
There are a lot of different types of minimalist wallets. Most are about the size of a credit card, with card pockets on both sides. There’s usually no section for coins, and the cash goes under a clip or strap, or into a pocket after being folded in half (or in half twice).
Verdict: Not a “traditional” billfold, but these modern designs insist on bills being folded to fit, so - 21st Century Billfold!
Box Wallets
A box wallet is a card case built into a sturdy frame, usually aluminum, titanium or carbon fiber, with the cards held between two plates. Ridge made the style famous, and there are now plenty of copies.
Verdict: A type of minimalist wallet that needs bills folded, so - another 21st Century Billfold!
Cellphone Wallets
This is a take on the minimalist wallet with a bit of a twist. There are two kinds: wallets that attach to the phone, and phone cases with a wallet built in.
Stick-on and magnetic wallets attach to the back of the phone or case. The early ones used adhesive (and were handed out as swag at conferences and trade shows). Newer versions attach with MagSafe magnets, so you can pull the wallet off when you need it. Our MagSafe wallet roundup covers the good ones.
Folio phone cases work like a thick bifold: the phone sits in one side and a cover folds over the screen, with room for a few cards and some cash. The only real drawback is that if you lose it, you’ve lost your money, your cards and your phone.
Verdict: Every cellphone wallet we’ve seen needs bills folded to fit, so - 21st Century Billfold!
Before You Go…
OK, so there we have it.
The word “billfold” may be old-fashioned, but most of the minimalist styles people buy today assume you’re carrying a few folded bills, so technically a lot of them are billfolds! They’re all the rage right now, and we have the best round-up of them right here: The (LONG!) List of the Best Minimalist Wallets.
