We have reviewed over a hundred wallets on this site but this is the first time that we are reviewing a smart wallet. So how does the Woolet 2.0 Smart Wallet differ from a normal wallet? Based on looks alone, you probably can’t tell at all. It looks very much like any other premium leather wallet out there. However, hidden inside the wallet are electronic components that include wireless Bluetooth for tracking and a battery that supports wireless charging.
So not only will you be communicating with your wallet using your smartphone, you will also need to charge your wallet occasionally. Don’t worry though as you don’t have to add the Woolet 2.0 Smart Wallet to the list of smart items that you need to remember to charge every night. A full charge on the built-in battery will last up to 6 months.
So the Woolet 2.0 has built-in electronics and requires charging but what does it actually do? Well, first and foremost, it is very well built wallet. It is bi-fold leather wallet with 5 card storage slots. Each of the card compartments can easily hold 2 cards each. Cards stored are staggered for easy identification when you open the wallet. Behind the card slots is the main cash compartment. It is fairly large and deep enough to store even large foreign currency notes. Last but not least, there is a hidden pocket with a flap in the cash compartment. It is quite small but ideal for storing loose change or a spare key.
It must be noted however that as far as slim wallets go, the Woolet 2.0 is on the higher end of the thickness spectrum. The multiple card slots plus the extra space required for the built-in electronics does add to the overall girth. However, the wallet does make up for it by incorporating smart features that help prevent you from losing the wallet.
When you first receive the Woolet 2.0, there is some setting up that you need to do beyond transferring over the contents of your old wallet. First of all you need to download and install the Woolet App from either iTunes Store or Play Store. Then you need to use the app and pair it with the wallet. You may even need to update the firmware on the wallet. Lastly, you may want to fully charge the battery on the wallet using a Qi compatible wireless charging pad.
Any Qi compatible charging pad can be used and if you don’t have one, you may want to consider getting the optional aptly leather covered Woolet branded charger. As mentioned earlier, a full charge can last up to 6 months we won’t consider this a minus point.
Now we come to the interesting parts. The way the Woolet 2.0 works is that it checks its connectivity with your phone. It this connection is lost, it sends an alert to your phone letting you know that you may have left your wallet behind. The technology behind this is not new. You can currently buy Bluetooth tags that you can attach to a wallet, handbag, luggage bag or a bunch of keys. Whenever the tag goes out of range, you get a notification. While the tags are small, they are still rather bulky when inserted into a wallet. Secondly, these tags don’t have rechargeable batteries and you need to toss and replace them when the batteries are dead.
Should you happen to misplace your wallet, there are a few things you can do to retrieve it. Firstly you can check the app to see the location where it was last seen. Once you are within Bluetooth range of the wallet, you can use the app to make the wallet give out an audio alert via its built-in speaker. The speaker is not very loud and it is not that easy to hear the audio alert if the environment is loud or if the wallet is buried under the cushion. There is also an option to add a Lost & Found card into the wallet. If someone finds your wallet, he can scan the QR code on the card and get your contact details so that the wallet can be returned to you. You decide what kind of details you want to include in the Woolet app.
However, we did encounter a few problems with the Woolet 2.0 during testing. The app will occasionally give out false alerts. The wallet and phone may be right next to each other and definitely within Bluetooth range but the app still send out alerts that the wallet cannot be detected. To be honest, this may be a limitation of Bluetooth as this happens to other Bluetooth tracking devices as well.
You can use the app to set up a quiet zone, a zone where the phone won’t send you an alert even though it loses connection with the wallet. This can be places like your home or your office where you don’t want to receive false alerts whole day long. However this has a drawback as well. If you did actually leave behind your wallet in an area that is marked as a quiet zone, you may get the alert that you have left your wallet behind when you are quite a bit of a distance away.
The Woolet 2.0 may not be perfect but the comforting thought of having a smart wallet that help in preventing you from losing it may be enough for you to overlook its few disadvantages.