In message , at 17:19:05 on Fri, 10
Oct 2014, Neil Williams remarked:
If that's an account with real money in it, won't that mean TfL have
to register with the authorities as a bank (which they didn't want to
do with Oyster). Stored value cards like Oyster seem to be a loophole.

The Royal Mail and moonpig.com both allow pre-pay online balances. I'm
sure there are many others, and I'm sure none are registered as banks.

Isn't that one more about how it can be spent?

You can get a refund from Oyster, is that true of your two examples (I
know that getting a refund for a phone top-up is virtually impossible).
--
Roland Perry