Two major share bicycle operators are quitting Sydney, with one reportedly giving bikes away to users for free.

The Australian newspaper reports Reddy Go, which claims to be the only wholly Australian-owned bike share company, informed its members the company was undergoing a restructure and said each user would be able to pick up two free bikes from its storage centre in Alexandria.

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Chinese-founded company Ofo said it would end its bikes service in Sydney and Adelaide within the next 60 days to focus on other markets overseas, News Corp Australia reported.

READ MORE Aussie oBike customers demand refunds as Singapore service closes

Singapore-based oBike withdrew its yellow bikes from Melbourne streets earlier this month after a crackdown by the Environment Protection Authority.

Since it shut down in Melbourne, many Victorian users have been unable to get their $69 deposit back after noticing that the option to request a refund through the app had disappeared.

While dockless bicycle schemes have proved popular in countries such as China, they've struggled in Australia due to helmet laws, vandalism of equipment and complaints about bikes being left in the wrong places.