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The Oyster smart card has massively improved London’s “tube” system.

An Oyster card lets you make use of the majority of the London transport system (even though some places choose to stay outside the scheme).

It provides a big discount on standard fares and also helps save you time in queueing to buy tickets.

The system automatically saves you money as it works out the cheapest fare at the end of the day (based on the journeys taken).

If you travel more than you expected to initially, it only charges you the lowest fare instead of pricey singles and returns.

So does this scheme have any pitfalls?

It can feel a bit daunting initially as you must purchase an Oyster card. This will cost a small deposit, which you ought to quickly recoup in the money you save.

You also need to “touch the card in and out” for all legs of your journey. But you’ll pick this up fast if you mimic the scores of London commuters you’ll see every weekday.

So unless your trip to London is a mere day-trip, you’re advised to get yourself an Oyster. Based on current information, Oyster cards don’t expire, which allows you to re-use them on future London trips.

If you do not expect to come back to London in the near future, you can usually get your deposit back (but please verify this with London Underground before you purchase).

There is a “Visitor Oyster” card which you can buy from some outlets but it’s not 100% clear at the moment what its benefits are to tourists.

If you really don’t want an Oyster card, you should at least make sure that you buy the cheapest London travelcard for unlimited access to the tube and buses for the entire day. But you may need to wait until after 9.30am on weekdays to access the cheapest fares.

You might also purchase a weekly travelcard for a larger discount if you’re in London for longer, but this does involve providing a photograph.

Remember: Oyster cards and travelcards can be used on both the tube and bus system, though not at all national rail stations. Do check before you travel.

For further info about the Oyster and public transport system in London it is useful to visit the official Transport for London website.

Finally, please make sure you wait until after 9.30am on weekdays to avoid London’s extremely high peak-time prices.

The writer shares expert advice on the best of London and real-time London hotel tips on Twitter.