Martin Lewis shares 2 step method to ‘make serious money’ without lifting a finger – £1,000s MORE a year could be yours

A TWO step method could make you "serious money" without lifting a finger, Martin Lewis says.

The Money Expert said the benefits begin when you check your cash ISA rate.

Savings kept in an Isa will continue to earn interest tax-free until the money is withdrawn from the account.

Fixed rate cash ISAs usually range between 4.80 and 5.2 percent.

But many Brits earn "diddly squat" on this interest, he explained on the Martin Lewis Money Show last night.

By opening a new top rate ISA you could make thousands of pounds more each year.

For instance, Metro Bank is currently offering 5.71 percent on a one year fixed rate with one of their cash ISAs.

The first step is to see how much you stand to gain by switching ISAs.

You can do this by running your savings through an ISA calculator, which can be found online.

Once you've found an interest rate that you like the look of, it's vital you follow a specific process to avoid nasty penalties.

Martin told his ITV Money Show on Tuesday: "Get your money out of fixed rate cash ISAs, people make serious money that way.

"Do not just withdraw the money.

"If you take the money out to put in a cash ISA, it is no longer in a cash ISA and you can lose the cash ISA status so you want to do a transfer."

This can be done when you apply for a new Cash ISA.

The money is then moved across for you and you can start making bigger savings on your cash.

There are 4 types of Individual Savings Accounts (ISA): Cash ISA, stocks and shares ISA, innovative finance ISA and Lifetime ISA.

Every tax year you can put money into one of each kind of ISA - the tax year runs from April 6 to April 5.

You can save up to £20,000 in one type of account or split the allowance across some or all of the other types.

You can only pay £4,000 into your Lifetime ISA in a tax year.

For example you could save £15,000 in a cash ISA, £2,000 in a stocks and shares ISA and £3,000 in an innovative finance ISA in one tax year.