The magnetic stripe on the back of the bank card stores the information of the card in an orderly arrangement. Magnets can make the arrangement of magnetic strips on the back of the card disorder, so that the information of your card can't be read by the bank card reader or ATM.

Not only the magnet of wallet can be degaussed, but also the mobile phone and strong magnetic area can be degaussed.

If there are more than two cards, be careful not to let the magnetic strips of the cards face each other, which will also cause degaussing.