MORE than $900,000 in interest was earned from myki balances in 2012-2013.

Public Transport Victoria (PTV) collected $910,669 in interest in the last financial year from money on commuters’ mykis.

Public Transport Users Association (PTUA) spokesman Tony Morton said the association had always been concerned about people putting lots of money on smart cards.

Mr Morton said interest was earned when money was put on myki and not used straight away.

He also said interest was earned when myki cards expired but had money left on them, leaving unclaimed money in a PTV account.

“It is essentially passengers’ money because it is sitting in their myki accounts,’’ Mr Morton said.

“Money that is paid in advance for travel goes into PTV’s coffers and ultimately they hand it over to the operators.

“PTV is helping themselves to part of the passenger’s cash flow. You are putting money on a myki card and giving that money to the Government even if you are travelling two or three weeks later.”

Mr Morton said there should be short term myki tickets available for this reason.

He said the money should be used to run more public transport services.

PTV spokeswoman Andrea Duckworth said interest earned was credited toward the cost of the operating system.

Ms Duckworth said anyone who had a myki with value on it and no longer required the card could seek a refund or have the value transferred to a family member or friend’s card.

“Myki money and unused myki passes remain available for refund or transfer for a year after the card has expired. After this time unclaimed balances are handled according to the Unclaimed Money Act, which includes provision for customers to continue to claim lost money from the Registrar of Unclaimed Money,” she said.

For more information phone myki on 1800 800 007 or go to ptv.vic.gov.au/tickets/myki/