Martin Lewis has revealed that Londoners with unused Oyster cards could reclaim a share of £560 million in unclaimed refunds. The Money Saving Expert founder informed his newsletter subscribers that recent Transport for London (TfL) figures from June 2026 show more than 95 million Oyster cards have not been used for at least a year, with significant funds lying dormant.
Breakdown of the £560 million
According to Lewis, the £560 million comprises £267 million in initial deposits and £292 million in pay-as-you-go credit. Anyone who purchased an Oyster card before September 4, 2022, paid a £5 deposit that can be refunded if the card is no longer used. For cards bought on or after that date, the £10.50 card fee is non-refundable, but any remaining pay-as-you-go credit can still be claimed.
Eligibility by purchase date
The refund rules vary depending on when the Oyster card was first registered. For cards registered between February 23, 2020, and September 4, 2022, the £5 deposit was automatically converted to pay-as-you-go credit after a year, which can be refunded along with any unused credit. For cards purchased before February 23, 2020, users can claim back both the £5 deposit and any remaining pay-as-you-go credit. However, requesting a deposit refund will stop the card from being used again.
How to claim your refund
To check your balance, first register your Oyster card online, then use the TfL Go app. To request a refund, sign into your Contactless and Oyster account online, select the card, and click 'Apply for a product refund.' If you have £10 or less in pay-as-you-go credit, you can also get a refund at Tube station ticket machines. TfL notes that refunds are not available for delays on buses or trams, or for delays outside their control, such as strikes or bad weather.
Additionally, commuters can claim refunds for delayed Tube journeys of 15 minutes or more through the same online account, and for incomplete journeys due to missed tap-ins or tap-outs, which can result in maximum fares of up to £16.30.
