Transport users in London who purchase Oyster season tickets from 17th May will face a £3 deposit as Transport for London seeks to reduce the environmental and administrative costs of replacing over a million lost and discarded cards each year.
The refundable charge, which is already levied on Oyster pay as you go cards, will be paid when passengers who buy or replace replace a misplaced, unregistered card.
According to TfL, season ticket holders account for the majority of the wasted cards. Official figures suggest a third of all new Oyster cards issued with a 7 Day Travelcard or Bus & Tram Pass on them are discarded after a week and more than half within 5 weeks.
Shashi Verma, TfL Director of Fares and Ticketing said: “To encourage Londoners to keep hold of their cards a £3 refundable deposit will be payable for all new Oyster cards issued from the 17th May. We are aiming to cut the million cards wasted every year which will save £3m in administration costs which we will plough straight back in to improving the transport system.”