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Folks who were Citi Bike annual members or bought passes last February might want to check their credit card histories.
Half of the system’s revenue from bike rentals that month came from overtime charges. Yes, half. During that icebound month.
And most of that came from annual members.
From its inception in May 2013 through August, Citi Bike had collected $4.5 million in overtime fees -- 17% of the revenue generated by memberships and passes.
Here are Citi Bikes’s explanations of the overtime charges:
For passes After the initial 30 minutes, it's an additional $4 for the second half hour, $9 for the third half hour, and $12 for every half hour after that. A trip begins when a bike is unlocked and ends when a bike is securely returned to any Citi Bike station.
For members After the initial 45 minutes, it's an additional $2.50 for the following half hour, $6.50 for the next half hour, and $9 for every half hour after that. A trip begins when a bike is unlocked and ends when the bike is securely returned to any Citi Bike station.
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