UK customers are being urged to check their eligibility for a £310 extra cash boost available through a bank account offer that has recently caught the attention of savers and everyday account holders. At a time when household budgets remain under pressure, offers like this can provide welcome financial relief — but only for those who understand the rules.
Unlike government payments or benefit support, this £310 is linked to switching or opening a bank account under specific conditions. While the offer is legitimate, it is not automatic, and many people may miss out simply because they do not read the details carefully.
This guide explains how the £310 bank account offer works, who may qualify, what conditions usually apply, and what to consider before taking action.
What the £310 bank account offer is
The £310 extra cash offer is a promotional incentive provided by certain UK banks to encourage new customers to open or switch their current account.
Rather than a loan or credit, the money is a reward paid to eligible customers who meet the bank’s criteria within a set time period. Once paid, the cash is yours to keep and does not need to be repaid.
These offers are commonly used by banks to attract customers during competitive periods.
Why banks offer cash incentives
Banks offer cash incentives to:
- Attract new customers
- Encourage account switching
- Increase use of current accounts
- Build long‑term customer relationships
From the bank’s perspective, the cost of the incentive is balanced against the value of gaining an active customer.
For customers, this creates an opportunity to earn extra cash simply by meeting standard account conditions.
Who may be eligible for the £310
Eligibility depends on the specific bank and offer, but people most likely to qualify include:
- UK residents aged 18 or over
- People opening a new current account
- Customers switching from another UK bank
- Those who meet minimum activity requirements
Some offers exclude existing customers or people who have received similar incentives in the past.
Is the £310 paid automatically
No. The payment is not automatic just for opening an account.
To receive the £310, customers usually need to:
- Complete a full account switch
- Move active direct debits
- Use the account regularly
- Meet minimum deposit or payment rules
Missing any requirement can result in the payment being withheld.
What “account switching” usually means
Most cash offers require a full current account switch using the official switching service.
This typically includes:
- Moving your existing balance
- Transferring direct debits and standing orders
- Closing your old account
The process is designed to be straightforward, but it is important to ensure all requirements are met.
Common conditions attached to the offer
While each bank sets its own rules, common conditions include:
- Paying in a minimum amount each month
- Making a certain number of card payments
- Keeping the account open for a set period
- Completing actions within a deadline
Failure to meet even one condition can disqualify you.
How quickly the £310 is paid
Payment times vary depending on the bank and how quickly conditions are met.
In most cases:
- Payments are made within 30 to 90 days
- The money is paid directly into the new account
- You may receive confirmation before payment
Delays can occur if requirements are completed late.
Is the £310 taxable
In most cases, cash incentives for opening a personal current account are not treated as taxable income for standard account holders.
However, if the account is used for business purposes or if you receive multiple incentives regularly, different rules may apply.
If unsure, checking guidance or seeking advice is sensible.
Does receiving the £310 affect benefits
For most people, the £310 is treated as a one‑off payment and does not affect benefits.
However, for people receiving means‑tested benefits, savings thresholds may apply if the money increases total savings above a set limit.
It is always wise to consider how any extra cash fits into your overall financial position.
Why some people are not eligible
Some people may not qualify because:
- They already hold an account with the bank
- They received a previous switching bonus
- They do not meet activity requirements
- They miss deadlines
Reading the full terms is essential.
What to check before switching
Before switching accounts, customers should consider:
- Whether direct debits will transfer smoothly
- Any charges linked to the new account
- Access to branches or online banking
- Customer service quality
Switching purely for cash without checking suitability can cause inconvenience.
How to avoid missing the payment
To avoid missing out on the £310:
- Follow all steps carefully
- Keep confirmation emails
- Track deadlines
- Check account activity regularly
Simple mistakes are a common reason payments are not made.
Are these offers limited‑time
Yes. Bank cash offers are usually time‑limited and can be withdrawn without much notice.
Banks may also:
- Change the reward amount
- Tighten eligibility rules
- Cap the number of applicants
Acting promptly can be important.
Why the amount is £310
The £310 figure often reflects a combination of:
- A base cash incentive
- Additional rewards for meeting extra conditions
- Linked offers such as referral bonuses
Not everyone receives the full amount unless all criteria are met.
Can couples or households both claim
In many cases, two people in the same household can each claim a separate incentive if:
- They apply individually
- They meet eligibility rules
- The bank allows multiple claims per address
Joint accounts may have different rules.
What happens after the payment is made
Once paid, the £310 is yours to use freely.
Some people:
- Transfer the money to savings
- Use it to pay bills
- Leave it in the account
However, keeping the account open for the required period is often essential.
Why people should stay alert to scams
High‑value offers often attract scammers.
People should:
- Avoid unsolicited messages
- Apply only through official bank channels
- Never share security details
Legitimate banks do not ask for sensitive information by email or text.
How this compares to government support
Unlike government payments, bank incentives:
- Are optional
- Require action
- Depend on eligibility rules
They are not designed as hardship support but can still provide helpful extra cash.
Who benefits most from these offers
People who benefit most include:
- Confident online bank users
- Those comfortable switching accounts
- People with stable income and bills
For others, the effort may not be worthwhile.
Is switching risky
The official switching service is designed to be safe and reliable.
Most issues arise when:
- Accounts are not fully switched
- Payments are not monitored
- Terms are misunderstood
Preparation reduces risk.
What to do if the payment does not arrive
If the £310 does not arrive:
- Check you met all conditions
- Review the bank’s timeline
- Contact customer support with evidence
Banks usually investigate if contacted promptly.
Why awareness matters
Many people miss out on bank incentives simply because they assume offers are too complicated or not worth the effort.
For those who qualify, £310 can provide meaningful financial breathing room.
Key points to remember
- £310 is not guaranteed for everyone
- Eligibility and conditions apply
- Payments are time‑limited
- Switching must be completed correctly
- Reading terms is essential
Final thoughts
The £310 extra cash available through a bank account offer is a genuine opportunity for eligible UK customers to earn additional money by switching or opening an account. While it is not automatic and requires careful attention to conditions, those who follow the rules can benefit without long‑term downsides.
As with any financial decision, the key is understanding. Taking time to read the details, check suitability, and act carefully can turn a simple bank switch into a useful financial boost at a time when every extra pound matters.