Tampa Overdraft Fees Most Expensive in the Country

July 9, 2013
Tampa Bay Business Journal  
overdraft news

Moebs Service has identified Tampa as the U.S. market with the steepest overdraft fees. According to the company, the national median is $30 -- up $1 from a year ago -- but banks and credit unions in Tampa charge a median $34. Florida, which led the states in overdraft penalties in 2012, slipped a notch to No. 2 this year. Economist Michael Moebs believes banks and credit unions in Tampa and statewide are boosting fees due to a lower volume of overdrafts -- most likely a byproduct of Florida's older population, which is characterized by higher income and savings as well as better budgeting compared to younger demographic profiles.
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