Nice idea with the magnet, but a bit of a design fail
This clip will work to secure bags of chips shut. The magnet part is a great idea but overall tis item falls short of being well designed. The magnet itself is rather weak so it wont hold much weight. I like to use a magnetic clip on our steel exit door to hold bills ready for the post. The magnet is not strong enough to hold more than a few. Also the magnet is at an inconvenient angle so any longer item, like a few business envelopes can interfere with the magnet's contact with the metal surface.