If you’re using Santander Cycles to get to work, the City Bike Hire scheme can save you up to 42% through a tax-free yearly membership.
How it works
You can use Cyclescheme (the Cycle to Work provider) to save money and spread the cost of commuting on city bikes through their City Bike Hire scheme.
Similar to the cycle to work scheme, your savings will range from 32% to 42% depending on your tax rate. You’re able to spread the cost of membership over 12 months and payments are taken before tax and national insurance contributions.
If you have any questions about how the scheme works or queries about the salary sacrifice, you can speak to the MyBenefits team or log on to the Flagscape portal.
About membership
A Santander Cycles annual membership, usually ยฃ90, will cost you a total of ยฃ61.20 if you’re a lower rate tax payer or ยฃ52.20 if you’re a higher rate tax payer – that’s just ยฃ1 per week!
Once you have your Santander Cycles yearly membership, you can:
- Use the app or your membership key to hire a Santander bike in London from over 750 docking stations
- Get the first 30 minutes of every ride for free
- After the first 30 minutes you’ll pay ยฃ2 for every additional 30 minutes of use in the same journey