What you need to know
PayPal offers two cycle schemes, Bike to Work and Bikes4work, both of which can help you save money while supporting your healthy commute to work. Each vendor has a different network of participating cycle retailers, so between the two programmes, you should be able to find a retailer near you.
The programmes are open to all salaried full- and part-time employees. And you can re-apply for a bike once every five years.
How the programmes work
PayPal will purchase a bike and safety equipment for you, up to a maximum of €1,000, from any participating shop. You repay the purchase through payroll deductions, spread out over 13 pay periods, and save money because you don’t pay tax, PRSI deductions, or the Universal Social Charge.
Be sure you’re happy with this scheme and your bike selection, because you cannot cancel repayment. If you leave the company, you’re still responsible for the balance owed. To receive the tax breaks, you need to be an Irish taxpayer.
Cycling to work
Apply for a voucher, and submit your quote through the Bike to Work or Bikes4work programmes, and get cycling to work. Once your quote is approved and paid by PayPal, you’ll receive a voucher to pick up your new bike and safety equipment.