The railcard will be available from 11 November and will give 830,000 eligible veterans – not currently covered by existing discounts – a third off train fares.

However, details are still being finalised so the Department for Transport can’t confirm at this stage whether it will be available on peak and off-peak fares.

It also can’t say whether the card will be contactless and eligible for use on the London underground.

The cost of the railcard will be £21 during an introductory period before being sold for £30. A Department for Transport spokesperson said this will be an annual cost.

The veteran railcard forms part of the government’s strategy to support former servicemen and women, recognising their service to the country, boosting their job prospects and bringing them closer to family and friends.

Transport Secretary, Grant Shapps, said: “Every part of society should honour the debt we owe those who’ve served our country. I’m proud that the Department for Transport, together with other government colleagues and the rail industry, is doing its bit.

“This railcard will help open up opportunities to veterans, whether through employment and retraining, or by strengthening links with friends and family. I believe that enabling former service personnel to travel more easily is the least we can do.”