Letters - Some thoughts on e-money

"REGULATIONS on e-money" (Legally Speaking [SunBiz], Aug 3) refers. The writer talks about e-money without bringing up a very important difference between designated payment instruments (DPI's) like Touch n' Go and banks' debit cards. The value in a bank's debit card remains until it is spent by the cardholder or until fees charged reduce the balance to zero. Even if the cardholder dies, or if the card is lost, the balance is still maintained by the bank in the cardholder's interest.
With Touch n' Go (and many phone cards before it such as Sapura, Teleoms, etc) you can not claim a refund if you lose your card, or if your next-of-kin – the cardholder – dies. So my question is, what is the accounting treatment for such cards? Who owns the balance after a person dies? Who owns the balance after the card is lost or stolen or is not used for a long time and the DPI issuer declares that the card has expired?
My feeling is that the money involved, after a period of inactivity whether caused by death or loss of card, should go to the government's Consolidated Fund under the Unclaimed Moneys Act 1965. I had brought this up at a task force meeting under the Multimedia Super Corridor but one important decision maker ruled it out. A bank would never grab your money when you are dead. Should, for example, Touch n' Go be allowed to grab rather than forward it to the Consolidated Fund?
I Wonder
Petaling Jaya