London's proposed bike hire scheme begins in the summer of 2010
The tariff for London's public bicycle hire scheme - due to start next summer - has been announced.
After paying a £1 "access fee", the first 30 minutes use will be free.
It will cost another £1 for up to an hour, £4 for 90 minutes, £6 for two hours and 24-hour use will be £50 - more expensive than hiring some cars.
Cyclists reacted to the tariff with cautious optimism, but complained Oyster Cards cannot be used. Docking bays will accept credit or debit cards.
John Ackers, of Islington Cyclists Action Group, said: "I think the price structure is good. The fact they will do a cheap rate for 30 minutes sounds good.
"What surprises me is they are not accepting Oyster for payment, which I thought would be important."
Transport for London says the 30-minute cheap rate is enough time to get from Regent's Park to Notting Hill Gate or London Bridge to Hyde Park.
The Mayor of London, Boris Johnson, said: "It is amazing how far your bike can take you in 30 minutes if you put in a bit of pedal power.
"To be able to do so on one of our fantastic new bikes is sensational value for money."