Asda Hub
Welcome to Cyclescheme!
The purpose of the scheme is to support colleagues in commuting by bike to and from work, and/or between workplaces, thereby contributing to lowering carbon emissions, reducing traffic congestion, and improving health & fitness levels.
Asda have formed a partnership with Cyclescheme, the UK’s leading provider who use a nationwide network of expert independent bike shops to get you riding to work.
Cyclescheme will help Asda run the scheme and will offer advice and support to you when joining the scheme and selecting your bike packages.
Through the scheme, you can save 32-42% during your hire period on the cost of a bike and/or cycle accessories & components up to the value of £3,000.
There’s nothing to pay upfront, no credit checks and no interest fees to pay. Just tax-free*repayments taken straight from your salary over 13 pay periods.
The cycle to work scheme is available to all Asda colleagues, regardless of the level of your pay.
*If your base rate of pay falls below National living wage when taking out the cycle scheme and your request has been declined, you will have the option to reapply on the Asda NET scheme. Information will be detailed in an email to you.
How do I apply
1. Visit any of our Cyclescheme Partner Stores (online or instore) and get a quote for the items you wish to apply for
2. Once you have your quote click the button below to start your Cyclescheme application
3. Your application will then be reviewed and if you are eligible for the benefit and the amount you have applied for your Cyclescheme Certificate will be issued to you via an email notification
4. Salary Deductions will commence from your next salary
5. Contact your chosen Cyclescheme Partner store and redeem your Cyclescheme Certificate
Where can I shop
Cyclescheme work with over 2000 Cyclescheme Partner stores nationwide – in store and online.
Find the retailer you want to shop with via the Cyclescheme Retailer Finder. Your chosen retailer will be able to give you advice on the best bike and/or accessories to suit your commute.
Making the most of your application
Do your research before making your application:
We would recommend that you visit a Cyclescheme Partner store – instore or online - to get a quote before you make your online application.
This will mean you are not applying and then having to cancel and reapply – delaying you getting your bike package - and means that we can get your Cyclescheme Certificate to you sooner.
FAQs
How long will it take for me to receive my Cyclescheme Certificate?
It can take up to 1 working week for you to receive your certificate.
- Please note during the Christmas period it may take longer for your certificate to go through the approval process. Therefore, if you are interested in applying for Cyclescheme please make your selection by the 18th December.
- All applications after this time will still be accepted but will not be reviewed until the first working week of 2023.
Are there any reasons why my application would be refused?
If the hire cost reduction of the cycle package you've chosen (together with any other salary sacrifice schemes you're participating in) means that your salary will fall below the statutory minimum rate we legally need to ensure we pay you, we will turn down your application. If this happens you may apply again requesting a lower loan amount.
Your application may also be declined if you do not meet the eligibility criteria. If your eligibility changes you may then apply again.
Applications must also be made via the correct scheme, determined by your terms and conditions. Using the wrong link to the wrong scheme will also cause your application to not progress. When you apply, ensure that you follow the correct guide relative to your terms and conditions.
Is there a limit on the cost of the bike and relevant safety equipment for the Gross Scheme?
Yes, you are limited to £3,000 (including VAT) for the selection of the bike and relevant safety equipment. In line with the Inland Revenue (HMRC) regulations you will NOT be
allowed to make the difference up if the goods requested in total are more than £3,000.
Is there a limit on the cost of the bike and relevant safety equipment for the Net Scheme?
Yes, you are limited to £300 (including VAT) for the selection of the bike and relevant safety equipment. In line with the Inland Revenue (HMRC) regulations you will NOT be
allowed to make the difference up if the goods requested in total are more than £300
What happens at the end of the hire period?
At the end of the Hire Period (usually a year) the bike is not your property and because it has a residual value, simply giving it to you would result in a fee and some tax charges.
However, we can wind the value of the package down to the point where its value is 'negligible' and we're able to transfer it to you for £0. It takes 6-years from the point you took delivery of the package.
Cyclescheme will contact you at the end of your Hire Period to give you your options, you can choose to either keep the package and wind its value down to £0 via an 'Own it later' agreement or to return the bike.
What if I change my mind?
We understand sometimes circumstances change and you may want to wish to cancel your request. As long as your certificate has not been redeemed, please contact Cyclescheme who will request the cancellation.
Can you opt out of the scheme, once you have received your bike, if you no longer wish to participate?
No, Consumer Credit law does not allow the hire agreement to be cancelled. Once you have signed the Hire Agreement and received the bike all outstanding monies will have to be paid back.
You will however have a statutory 7-day cooling off period from the date you pick up the bike.
Once this cooling off period has ended you will NOT be able to opt out of the scheme.
Cyclescheme Help Desk Tel: 0331 630 5416 or www.cyclescheme.co.uk/asda
What happens if you leave Asda before the bike has been paid for?
Under the terms of the Hire Agreement and the Credit Consumer Act, the agreement to pay the loan is non-cancellable. This means that all outstanding monies will be taken from your final pay.
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