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Money Market / Savings

Business Money Market Rate Account

Mechanics Bank’s Business Market Rate Account (“BMRA”) offers highly competitive interest rates on short-term investments. This account provides our business customers with an opportunity to maximize earned interest with premium rates on a Money Market Account as part of their total banking relationship.

Eligibility requirements for a BMRA are as follows:

1. Open a business checking account and
2. BMRA minimum opening deposit of $100,000 or more and
3. Use one or more business services offered by Mechanics Bank, such as:

  • Business Loan
  • Treasury Management Services
  • Wealth Management Services

The Business Market Rate Account is a no-check Money Market Account. Access to this account is available through our web banking service. Money Market Account transaction limitations apply.

Property Management Money Market Account

Designed specifically for Property Management Companies to take advantage of high Money Market rates by grouping their paperless Money Market Accounts to receive a cumulative rate. Grouped accounts can earn up to the 90-day Treasury Bill Rate. The eligibility requirements are:

  • A Mechanics Bank analyzed business checking account
  • A group of Mechanics Bank “paperless” Money Market Accounts (accounts retain their individuality, while balances are grouped to provide the highest eligible rate).
  • Use of one or more cash management solutions offered by our Treasury Management department
Premiere Savings Account

Agent and Administrator Service contracts with Financial Planners and Pension Plan Administrators to provide the “Premiere Account”, a high yielding account where clients can park the un-invested cash portion of their Retirement Plans. Agent and Administrator Services provide detailed statements to both the client and the affiliated Administrator. These efficiency statements are a time saving tool for the administrator who is responsible for ensuring the plan remains in compliance with ERISA guidelines. Eligibility requirement: A relationship with a Mechanics Bank affiliated Financial Planner or Pension Plan Administrator.

Additional Savings Products

Mechanics Bank also offers additional Business Savings products, including our Business Savings and Money Market Plus Accounts.