London Santander Cycle Hire

The London cycle hire scheme, or the LCHS as it is now abbreviated to, was introduced on the 30th July 2010 with a fleet of 5000 cycles. Orig9nally sponsored by Barclays Bank. The London Cycle Hire Scheme is operated around the clock, that's 24 hours 365 days a week. Bikes are hired and returned from and to docking stations. The stations are located in multiple locations in an area roughly bounded by Primrose Hill to the north, Hackney to the east, Kennington to the south and West Kensington to the west. In September 2010 there were 335 docking stations and 400 by end of phase one January 2011. All  user generated revenue goes straight back to TFL (Trasnport for London). You must be 14 or over to hire a cycle.
>>>see map of docking stations

To use an individual bike you insert your key into a docking point key slot. The light turns green and you undock your cycle by placing one hand on each of the handle bars and firmly pulling it out of the docking point.  Remove your key from the key slot. When re-docking your cycle, return it to any empty docking point which has no lights illuminated by pushing it firmly into place.

The cost is broken down into a cost for using the bike (24 hrs, 7 days or annual) and the charge for the time used. The first half hour is free.
>>>view cycle hire charges

If the docking station you return the cycle too is full up there will be a terminal showing the nearest stations and you will be given an extra 15 minutes to return the bike to one of these.