The distinctive design of the bicycles was unveiled at the Cycle Show in October and a map showing the location of the docking stations has been available for some time, but details of how much it will cost to use London’s mass cycle hire scheme have hitherto been unknown.
The first 30 minutes of bike hire will cost £1.
Half an hour is enough time for an average cyclist to get from Regent’s Park to Notting Hill Gate or London Bridge to Hyde Park.
The price means that it will be both quicker and cheaper to use a London hire bike within zone one than to travel by bus or tube.
The equivalent journey by bus could take longer and would cost £2. The single cash fare for the same journey by tube is currently £4.
London cycle hire rates
| Release fee | charged every time a bike is removed from its docking station or on a weekly or annual basis |
|---|---|
| Daily rate | £1 |
| Weekly rate | £5 |
| Annual rate | £45 |
| Hire charges | increases the longer you keep the bike |
|---|---|
| Less than 30 minutes | no charge |
| Less than 60 minutes | £1 |
| Less than 90 minutes | £4 |
| Less than 120 minutes | £6 |
| Less than 150 minutes | £10 |
| Less than £180 minutes | £15 |
| Less than 6 hours | £35 |
| Less than 24 hours | £50 |
The benefits of cycle insurance
Bikes are vulnerable to theft and in the case of an accident you may need to seek compensation or even deal with a claim by someone else. Cycle insurance from the ETA includes new-for-old replacement, third party insurance, personal accident cover and if you breakdown, they will even come out and recover you and your bike.
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