Nationwide, Lloyds, NatWest and Santander customers urged to claim £250 Brits advised to make a simple change to make more money Households are making the same mistake when it comes to savings. UK households with the big banks can make a key change to boost their balances. Finance experts say a common mistake Brits make is to leave their savings in an account which offers a poor rate of return. ‌ Article continues below This means they miss out on extra money which could be made in interest on their savings. READ MORE: The PIP claimants who will fail to qualify for benefit under tough new rules Get our best money saving tips and hacks by signing up to our newsletter ‌ Following the start of the new tax year in April, savings experts have offered advice on how households can make their money work for them in the best ways. Moving money from a poor interest rate account - generally considered to be anything below 3% - is an easy way to boost bank balances. Millions could make hundreds of pounds extra in this way by being more savvy about where they put their money. ‌ For example, someone putting £5,000 into a 5% AER account and leaving it there would make £250 in a year. Fiona Peake, personal finance expert at Ocean Finance, said: "Whether you’re saving £50 or £5,000, the key is to start. "Investing early gives you the greatest benefit as your money is protected from tax and has more potential to grow. ‌ “If you’re still using a standard savings account paying low interest, switching that money into a Cash ISA could protect your returns from tax, especially if you’re close to or over your Personal Savings Allowance.” "There are Cash ISAs, Stocks & Shares ISAs, Lifetime ISAs, and even Innovative Finance ISAs. "Each has different benefits depending on whether you’re saving, investing, or buying a home, so it’s worth checking what’s right for your goals. Article continues below “Keeping track of ISA contributions across different accounts can be tricky, but it’s important you don’t accidentally exceed your £20,000 limit or you’ll face a fine. "If you’ve put £4,000 into a Lifetime ISA, you’ll only have £16,000 left for others.”