Yes, any amount from £10 (or your full balance, if it's less than £10). The money goes to your linked UK current account in your sole name, usually within 2 working days. If your balance drops below £1, we may close the account. If it closes before your bonus is paid, you'll lose the bonus but keep the interest you've earned, and a closed account can't be reopened.
If you take money out and pay it back in, it counts towards your £250 limit again.