What does this chart show?
That the amount of unclaimed money on Oyster cards, which enable commuters to travel on public transport in London, has risen steadily to just under £400m over the past six years. Transport for London has published data on Oyster card usage between October 2013 and September 2019.
More specifically, there is currently £190.6m in unclaimed pay as you go balances and £196.7m in unclaimed deposits, according to TfL.
Commuters obtain an Oyster card by paying a £5 “deposit”. However, to pay for travel on London transport, commuters build up their “balance” by adding cash to their cards at a shop, or an Underground or train station. Both the deposit and the unused balance can be claimed back.
According to TfL, the amount of unclaimed deposits rose from £64.2m in June 2014 to £196.7m in June 2019. Unclaimed balances rose from £68.4m in June 2014 to £190.6m in June 2019.
Why are commuters leaving money on old Oyster cards?
According to TfL, a number of factors explain the growing amount of unclaimed deposits and balances. This includes the changing habits of tourists as well as Londoners.
TfL said: “Many customers keep money on Oyster cards in case they need it when friends [or] family visit them — so it’s not always a simple case of this being money that customers have ‘forgotten about’.”
“Equally, a number of these cards may be held by overseas tourists who visit London sporadically and therefore want to keep the card either as a memento or for when they next visit the city.”
The growth in contactless payments may also account for the rise in unclaimed balances. About 60 per cent of all pay as you go journeys are now made using contactless bank cards. According to TfL, 20 per cent of contactless journeys are made using mobile devices, including phones and smart watches.
Contactless ticketing on London transport was launched in September 2014 and cards issued outside the UK can also be used to travel within the capital. Bank cards from 130 countries around the world have been used to pay for transportation.
“Effectively — if you name a country that has contactless bank cards — we have most probably seen it [used within] our system,” TfL said.
A total of 55,000 new contactless cards or mobile devices are used on London’s transport network every day. Yet despite the growth in contactless payments, Oyster cards remain a popular mode of payment in London.
Indeed, TfL has issued more than 4m Oyster cards so far this year, many of which are later refunded, or not used after a few weeks, which suggests that they were initially purchased by tourists.
How do you retrieve an unclaimed deposit or balance?
Almost £400m worth of unclaimed deposits and balances line the coffers of London’s transport system. However, customers can claim this money back.
TfL said: “To be clear — the credit on an Oyster card never expires and anyone who wants to claim back any unused credit and the deposit from the card can do so.”
TfL’s chief technology officer, Shashi Verma, said: “We’re committed to ensuring that our customers can get back the credit on their Oyster cards if that is what they want.”
“This is why we regularly publish the amount of credit on cards and how people can obtain a refund.”
According to Mr Verma, refunds “up to a value of £10 — plus any deposit” can be obtained from selected ticket machines at every Tube station in London.
In addition, commuters can obtain refunds via a Visitor Information Centre or Tfl’s customer team. For refunds over £10, commuters should contact TfL Customer Services. If your Oyster card is registered, you can apply for a refund online.
