Oyster used to be the go-to way of paying for travel around London, but 66 million of the blue plastic cards haven't been used in at least a year. And while they languish forgotten in drawers, bags and wallets, Transport for London has amassed a fortune in unclaimed balances and deposits - now worth almost £400m.Yes, more than £399m of customers' cash is sitting in accounts managed by the group treasury for TfL, and is being used to"improve the transport network".
Any interest earned is also spent on improvements but the money will"remain available" should customers want to use their Oyster card again or request a refund, it added.There are a few reasons. When the Oyster system was introduced in 2003, it revolutionised travel across London. But journeys made in this way have steadily declined since TfL started accepting contactless in 2014.
But the rise of contactless only accounts for some of the 61 million Oyster cards and five million visitor cards that have not been tapped in or out for at least 12 months.Many are spread all over the world, kept by those who have left London or tourists who visit sporadically and have hung on to it - and consequently the remaining balance - as a memento.
There are currently 784 cards in circulation that have not been used in a year with a balance of £90 - the maximum credit that can be held on an Oyster. "Some people assume because it's not registered they can't get a refund or it's a bureaucratic process, but it's relatively straightforward and it's quite satisfying to do.Getty Images
Considering theres only an overall loss to TfL of £116 million a year due to fare dodgers. Why do fares go up if their sitting on £400 million. That means they have a profit of £284 million.
I tried to get my £ 5 deposit back upon leaving London. There were ticket machines to buy and top up but apparently none that could actually repay. It should be easier.
TFL should setup a web page so you can cancel your card and have the balance transferred to a number of named charities
As they don't expire, people can leave what they want on them and may only visit occasionally. Bit of a misleading headline.
We still use ours as it's the only way our teens can travel half price when visiting London.
£400 million, maybe invest some of that into recruiting some more enforcement officers to keep beggars off the overground.
I still have mine and I live in Peru
I have £9+++ but cannot get it back as it is less than £10 and I live outside of zone and have not used cars in last year.
2 years' worth of charity work. Unappreciated apparently. A bird may have said something. I don't remember.
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