A step-by-step guide to GCI

Instant GCI (pay-as-you-go)

Corporate GCI

Instant GCI (pay-as-you-go)

Instant GCI is perfect for organisations who expect just a small number of employees to take part in the cycle to work scheme or if they wish to run a pilot scheme.  The following comprehensive step by step guide details every step in the Instant GCI process so there are no surprises:-

 

Step 1:  Employee expresses interest in scheme and speaks to their HR Dept to gain permission to get quote.  Third party finance can be arranged where necessary.

Step 2:  Employee checks to see where nearest registered bike shop is.  Let us know if your chosen bike shop isn’t registered with us and we will sign them up.

Step 3:  Employee goes to a registered bike shop and chooses bike package.  Bike shop gives price  (Please ensure they will honour the price for 30 days).

Step 4:  Employee fills in the form on our Instant GCI quote page (this could be done in the bike shop).

Step 5:  Proforma is generated and the employee takes it to employer to be paid.   Akira will make this payment where third party finance has been used.

Step 6:  Salary sacrifice agreement and hire agreement are e-mailed to the employee to be e-signed.  Once both documents are signed, GCI pays the bike shop via a self-invoice.

Step 7:  Voucher is e-mailed to the employee so they can collect their bike.   It is vital that the employee takes the voucher and photo ID with them when collecting their bike.

Step 8:  GCI e-mails a copy of the salary sacrifice agreement to the employer and if applicable, an invoice paid with instructions on how to handle the VAT element.

Step 9:  Employee’s salary is reduced through salary sacrifice for agreed period of time.  The employer will start to repay the third party finance if used.

Step 10:  After 12 months hire agreement period ends, GCI invites the employee to enter into a free of charge loan of the bike for a further five years.

Step 11:  After loan period ends (5 years), the employee makes nominal £1 payment to take title ownership of bike.  Bike has no market value at this point.

Corporate GCI

If you are a large organisation, why not consider becoming a corporate client and join Corporate GCI.  You will have a dedicated portal where you can review and authorise your teams’ applications.  Your scheme manager will receive e-mail notification when an application is submitted and have access to the signed documents in one place.

 

The following comprehensive step by step guide details every step in the Corporate GCI process so there are no surprises:-

 

Step 1:  Employee learns about GCI from their employer and obtains a GCI code

Step 2:  Employee visits a registered bike shop and chooses a bike package.

Step 3:  The employee enters their company’s GCI code and their bike package details into the GCI quote page.

Step 4:  Employer approves the employee’s scheme application via the portal.

Step 5:  GCI e-mails salary sacrifice & hire agreements for electronic signature.  Once both documents are signed, GCI e-mails invoice to the employer for immediate payment (30 day terms available to public bodies)

Step 6:  GCI e-mails reseller the self-invoice and payment for bike package.

Step 7:  Voucher is e-mailed to the employee so they can collect their bike.   It is vital that the employee takes the voucher and photo ID with them when collecting their bike.

Step 8:  GCI e-mails copy of the salary sacrifice agreement to the employer’s Payroll Dept so salary can be adjusted.

Step 9:  Employee’s salary is reduced through salary sacrifice for agreed period of time.  The employer will start to repay the third party finance, if used.

Step 10:  After 12 months hire agreement period ends, GCI invites the employee to enter into a free of charge loan of the bike for a further five years.

Step 11:  After loan period ends (5 years), the employee makes nominal £1 payment to take title ownership of bike.  Bike has no market value at this point.