I know carrying around this much cash is not a good idea and it is better to use card instead but is there a hack to close a wallet full of cash so it could fit in my pockets?
As a former taxi driver, I used to have to carry a day's cash intake on my person, at least long enough to take it to the bank and deposit most of it. I routinely found it more than I could close inside my wallet, especially after I switched to a tri-fold type.
My solution was to carry my cab fares and the day's starting wad (enough to change a $50 for a $5 fare, at least) in my shirt pocket (button-up collared shirt), inside a vest. As I accumulated cash through the day, I'd transfer $20 and $50 bills from the shirt pocket to the inside vest pocket -- still accessible, but like the "drop" safe in a convenience store, somewhat protected in the event of a robbery (I was never robbed in two years driving, but it was always a possibility to consider), and hiding the bulk of the day's income even while making change.
If you were to put cash in your wallet like in the picture you've provided, the thickness of cash in the fold of the wallet makes it difficult to close. Alternatively you could invest in a money clip these hold you cash tightly together, when folded in half you can fit a wad in either side of the wallet compartment. You could also use a paperclip, but if you have too much money in your wallet I'd buy a money clip :-)
This should not be a common situation, as you really should only have a little more than enough money in your wallet for what you are going to need for the day. In other words, most of that money should not be in there in the first place.
If you need to carry extra money one day, I would seriously consider alternate ways of carrying it for safety reasons and the following springs to mind:
- A money belt – Store the extra money around your waist in a belt, or dedicated pouch for carrying money
- A neck wallet – When travelling some people use a wallet/bag to keep their passport and extra money safe. You hang this under your clothes around your neck
- In your socks – Another option could be to store some of the extra money tucked into your socks parallell to your legs (if your socks are long enough to keep them properly fastened)
How about a large non-folding wallet? You could keep it your inside coat pocket, or wear cargo pants or shorts with a large pocket on the leg that this bigger wallet fits into.
If you want the wallet to close with that much money inside, use larger denomination bills. The point of having larger denomination bills is that it makes it easier to store, carry, and exchange larger amounts of money. This has its downsides (see Larry Summers's post here, for example), but one of the advantages is that it solves the specific problem raised in this question.
Also consider leaving some in a safe or other such safe place where you can conveniently access it, if the banks are too inconvenient. Carrying that much on your person concentrates your exposure to the risk of robbery.