Ok, so I got it because I needed a magnetic case to hold my phone on the refrigerator, the car holder, etc. Just now at work, when I was opening a water bottle, it just spilled all over soaking the top part of my phone. I though it was also underneath, so I took it off right away, surprisingly, nothing leaked through and it was completely dry. This is the safest phone case I have had so far.
Regarding the wallet, well, if you put too much of cards it will not close at all, this is for a practical use to even attach to the your belt and carry it with you. Giving to it 5 stars for the proved factor it protected my phone.