Compare Checking Accounts
Smart Business Checking
Ideal for: Your basic business checking needs
Minimum Opening Deposit: $100
No monthly service charge with any ONE of the following:
- $3,000 average monthly collected balance1 in your Smart Business Checking account OR
- $6,000 average monthly combined balances2 in all eligible Mechanics Bank deposit accounts
Monthly service charge when above criteria is not met: $10
Preferred Business Checking
Ideal for: Businesses with greater cash and item processing needs
Minimum Opening Deposit: $100
No monthly service charge with any ONE of the following:
- $5,000 average monthly collected balance1 in your Preferred Business Checking account OR
- $15,000 average monthly combined balances3 in all eligible Mechanics Bank deposit and loan accounts OR
- Hold Nonprofit Organization status
Monthly service charge when above criteria is not met: $15
Prime Business Checking
Ideal for: Businesses with higher transactions and can benefit from some cash management tools
Minimum Opening Deposit $100
No monthly service charge with any ONE of the following:
- $25,000 average monthly collected balance1 in your Prime Business Checking account OR
- $50,000 average monthly combined balances3 in all eligible Mechanics Bank deposit and loan accounts
Monthly service charge when above criteria is not met: $30
Business Interest Checking
Ideal for: Small to mid-size businesses looking to earn interest on their balances
Minimum Opening Deposit $100
No monthly service charge with any ONE of the following:
- $10,000 average monthly collected balance1 in your Business Interest Checking account OR
- $30,000 average monthly combined balances3 in all eligible Mechanics Bank deposit and loan accounts
Monthly service charge when above criteria is not met: $20
Disclosures:
1 The average collected balance is calculated by adding the collected principal in the account(s) for each day of the statement cycle and dividing that figure by the number of days in the cycle.
2 Combined balance for Smart Business Checking means the average collected balance of your primary checking account, together with the combined average balances (determined on the statement date of the primary checking account) in your other eligible Mechanics Bank business deposit accounts. For sole proprietors only, combined balances may include business and personal deposits.
3 Combined balance for Preferred, Prime and Business Interest Checking means the average monthly collected balance of your primary checking account, together with the combined average monthly balances (determined on the statement date of the primary checking account) in your other eligible Mechanics Bank business deposit and business loan accounts. For sole proprietors only, combined balances may include business and personal deposits and loans.