On Sat, 10 Jan 2004 14:16:03 +0000, Bob Adams wrote:

Still doesn't answer why LUL/TfL are charging a deposit on the card (or
why passengers are willing to pay it.)

There is a precedent; Milton Keynes Council operate a 5 quid deposit
scheme for their smartcards - including seasons. MK Metro charge an
additional fiver on the first ticket, which is non-refundable (presumably
to encourage you to keep the card and use it again in the future, even if
not immediately, rather than returning it).

Neil