Choose a specific date in the near future, ideally between two weeks and one month from now, and set it in stone. This will mark the end date of your current provider’s scheme, with your new provider taking over the following day. Moving quickly is encouraged – after all, if you’re switching, it’s for an upgrade, so no one will fault you for making the transition swiftly.

This date is the last day employees can submit applications with your current provider. After this, remove any links to the old provider’s portal, and if possible, restrict any further application access. If any applications are submitted after this date, simply reject them and direct employees to your new provider’s platform.

Once the switch date is confirmed, set up your account with the new scheme provider if you haven’t already – it’ll be ready to go the day after your chosen date.

With DASH: We can set up your account in under 30 minutes. Plus, a dedicated Account Manager will be available to guide you through the process if needed. Many companies, however, find the setup so intuitive they do it unaided!

Let your employees know about the upcoming switch and why it’s a positive change. Outline the highlights – such as greater flexibility and options available through the new provider. 

With DASH: communicating this is easy, as we offer more ways to access a bike than any other provider, making the scheme both appealing and flexible for employees. Our platform streamlines the entire process, giving employees a clear understanding of how the scheme works and empowering them to engage with ease – so they get what they want faster and with less hassle.

Launch your new scheme, sharing all the details employees need to access it. 

During this period, salary sacrifice agreements with your old provider will continue to run down as employees make orders through the new provider. These agreements typically last 12 months (or longer if extended repayment periods were allowed).

With DASH: we support your launch with emails, flyers, posters, welcome kits, and more to make the transition seamless and engaging.

Many companies worry that being contracted to their current provider until a set date means they can’t switch early. In most cases, this isn’t an issue.

First, check whether you’ve granted your current provider exclusivity. If not, you’re free to sign up with a new provider and gradually wind down the old scheme, even if you don’t terminate the agreement until the end date.

If you have granted exclusivity, it generally won’t prevent you from switching unless your provider offered a discount or specific incentive for this exclusivity, such as discounted access to their broader benefits platform. In that case, review your agreement’s exact wording to see what actions they may take. However, if that wasn’t the case, it’s highly unlikely that they can impose any penalty or financial charge for switching early.

Since you will have already paid for employee orders upfront (or will pay for any outstanding employee orders/invoices by their due dates), your current provider can’t demand early or accelerated payments beyond your current schedule. Additionally, most agreements include a liability restriction clause similar to the one below, which means they can’t claim compensation for any loss of revenue, profits, or business from moving away from them early:

“Neither party shall be liable under the Agreement for any: loss of profit, loss of revenue, loss of sales or business, loss of agreements or contracts, loss of anticipated savings, loss of, or damage to goodwill, or indirect or consequential loss or damage, however caused, even if foreseeable.”

So, if you’re unsatisfied with your current scheme, don’t let the length of your agreement prevent you from making a switch sooner rather than later!

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Disclaimer:

This guide is for informational purposes only and does not constitute legal advice. While we’ve provided general guidance based on typical contract terms, each Cycle to Work scheme provider agreement may differ, and you should review your specific contract terms or consult with a legal professional if you have questions about switching providers. DASH does not assume any liability for decisions made based on this guide.

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