Mechanics Bank

I’ve been using Mechanic’s Bank for business banking for about 1.5 years, and I cannot wait to switch banks. I’ve been seeing the red flags for some time now and I don’t know why it took me so long to look for another bank. Here are some (but not all) of the problems with the bank:
(1) Most of the tellers have no idea what they are doing, and it takes forever to get a simple transaction done
(2) Our business banker quit and nobody told us
(3) The bank mistakenly transferred money out of our attorneys’ trust account into our general account
(4) It was like pulling teeth getting my debit card cancelled when it was stolen, and took way longer than it did with all the other banks I had credit cards with
(5) the website seems to have been created in 2000 and hasn’t been updated since
I really wanted to support you, Mechanic’s Bank, but you make it impossible to do so.

If there is such a thing as a good bank, this is it. The people are friendly and they refund your ATM fees from any location. I’ve kept using them even though I moved to San Francisco and there is only one location (in the FiDi).

Although I blame myself entirely for not checking rates before I walked in, NEVER AGAIN will I use this company to exchange money! I paid $ 302 (with the $ 5 fee, so $ 297) to receive 5,300,000 Vietnamese Dong. XE says $ 297 should have given me around 6,300,000 Vietnamese Dong! Yes, I understand that they need to make profit, but 1,000,000 Dong worth of profit? That is equal to about $ 45! Which means it cost me about $ 45 to exchange about $ 300! NEVER AGAIN.
While in Vietnam I exchanged another $ 300 and got back 6,000,000 Dong. Lesson learned, bring US money into the country and exchange there.

Mechanic’s has been my bank for a couple of years and I’ve been happy with them; however, I recently discovered they have been purchased by a Texas billionaire with an eye to accumulating small banks and selling them to big banks. This completely undermines the reason I moved my money from Citibank in the first place. Now I’ve got to find some other small bank to use (Provident Credit Union completely failed me so don’t tell me about them please).

My wallet was stolen and I needed to open a new bank account and I don’t like my current bank, so I decided to go with Mechanics. It’s one month later and they still haven’t been able to get me a working ATM card and I found out today, they can’t get me one for another 2 weeks. Sorry, but a bank that takes 6 weeks to get me an ATM card is not a bank I can trust, so today I closed my brand new account. I’m out $ 28 for checks, too, which sucks. Get it together, Mechanics Bank! This is no way to treat a new (and now former) customer.

This is a wonderful bank! They really focus on customer service, are always friendly and helpful, and they don’t charge any fees for my small business account. They would get 5 stars just for all that, but what prompted this review was the way they handled an overdraft. Due to my own inattention, I recently overdrew my account by a few dollars, and they called me right away — on two different numbers — to let me know about it. I was impressed at how they jumped on it, but was sure they would also hit me with an overdraft fee like most other banks would have. When I asked how much it was going to cost me, they said they would waive the fee! I just checked my account (now a few days later) and they were true to their word — the overdraft didn’t cost me a penny.
I highly recommend Mechanics Bank!

Corporate complaint, and 1 – 800 Customer Service complaint, not branch.
Incompetent corporate handling of debit card/​Target fiasco. Citibank got me my new card the next day. Mechanics Bank? They cancelled my card without telling me weeks ago, then told me it was reinstated (it wasn’t), then told me again it was reinstated (but it was declined the next day at the grocery store after two hours of shopping), and now have told me again my card is good to go. Still no new card… week three…
When I asked to speak to a manager, I was put on hold for 10 minutes then told no one was available. They took my number… I’m holding my breath…
Guess where we are NOT putting our investments or new mortgages.
THREE WEEKS LATER 2÷19÷14. Six weeks since debit card mysteriously quit working. Never did get that «letter we sent out» from Mechs Bank. Still no new debit card. Neither Rebecca nor Denise (the manager) at the call center ever called me back. On ²⁄₁₂ Priscilla checked with Denise, then told me the cards were being mailed the next day, I would have it Tuesday at the latest. Today is Wednesday — no card. Priscilla, Denise and Rebecca are all unavailable. A Miss Mays (?) told me today my card was mailed yesterday and I should have it in a few days. This will be the 4^th time I was told IT WAS MAILED. The card works intermittently. This bank seems to work intermittently.

Think twice about your surroundings when exchanging money. I read the reviews and called Mechaincs Bank to see about weekend hours. I was told I can go to the Westfield Mall in downtown on Market and Mission st. We were going to Switzerland for the 2014 New Year’s. I never thought I was in danger of being robbed but now realize this is the perfect location to watch tourist needing money exchanged. I was lucky to be quick and loud. I screamed and screamed when my money was taken and the security guard in the mall was there instantly. I got back my money minus $ 100.00 the thief was able to remove from the wad before he returned the money. His girlfriend gave me a good punch in the jaw stating I had no right to hold his arm and scream. The security took the two down an escalator and returned a few minutes later. He let them go and stated I fine. Really? I now think the security guard was in on this scam. We were to catch a flight at SFO and didn’t have time to pursue the situation. BEWARE!

fast, no hassel, no line. Reasonable price for euros.

good stuff. quick. nice folks. don’t take coins but not a big deal.

If you need to exchange large sums of money (thousands) and you’re doing it last minute, this is your best bet. Many banks need to be notified in advance of a large currency exchange because they don’t keep lots on hand. The rates here are great and fees low.
Unfortunately, when I went on 12-​23-​2008, I was shortchanged on the exchange and the rep forgot to apply a fee coupon I had presented. When I called, the rep remembered me and said to come in and he’d make it right. I don’t live nearby so I never had the chance to come by and get my $ 25 bucks or so. So my advice is to take the time to make absolutely sure you were given everything you should have gotten, before you leave.

This place is hands down the BEST place to exchange foreign money in the City!
I have exchanged British Pounds AND Philippine pesos into US Dollars and each time, the representative was courteous, professional and cheap!!!
$ 10 was the commission fee and the exchange rate was HIGHER than other banks!
For example, based on today’s rates, Mechanic’s Bank cited 45.00 pesos to the USD vs. 41.00 pesos (BPI — Bank of the Philippines) and 42.00 pesos (at SFO Currency Exchange)!

My friend, Sherry Shang and I visited bank after bank in the Embarcadero area checking currency exchange rates. Union Bank, Chase, Bank of America, and other big banks charge more for exchanging foreign currency into US Dollars; plus, these banks won’t give foreign currency exchanges not UNLESS you own a bank account with the specific bank. I was shocked how expensive and how profitable big banks make from foreign currency exchanges!
We visited MB and I saw a Unilocal logo on the counter. .. Well, then! Awesome~Sherry you should change you money here, since MB has Unilocal reviews! Sherry received a better currency exchange rate here and best of all, she saved money, too!

I LOVE Mechanics Bank!!! I certainly never thought I’d find myself saying I love a bank… well technically a credit union… but here I am.
I have a personal checking and savings, as well as two safe deposit boxes with Mechanics. Safe deposit boxes can generally be rented with no advanced notice and you’ll have the key-​in-​hand within a few minutes of signing up!
Their free ATM fees (they reimburse for using competitors ATMs if you get dinged any fees) are a HUGE perk. I can’t say enough good things about Mechanics Bank. I’m opening a business checking account soon, and you can be sure it will be with Mechanics Bank!

Just opened a business checking account here, for my small business S-​Corp. I tried opening a business checking account with two places previously — a local credit union with shockingly unprepared personnel, and a Bank of the West branch with a manager who demanded documentation that left my accountant baffled — and was personally rude to her when she tried to explain things to him.
Then I tried Mechanics Bank. The account offering was great and perfect for me, the woman who opened it was both personable and knowledgable, and overall the experience could not have been more easy and more pleasant.
They’re also a full-​service bank, which meansI may be returning to them for credit lines for the business, a 401K to maximize my retirement savings, and also a personal checking account unless I find someone better.
I heartily recommend this bank to any small business in the Bay Area and elsewhere.

I love my bank, really really love it. This location in particular is my favorite, but all of the locations are great.
Who doesn’t love free ATM fees, thats right, use another ATM and they refund the entire cost each month. No more excuses for wanting to be with a big bank with lots of ATMs like Bank of America, Wells Fargo, or Chase (die in a fire you crappy big banks!)
They give me .5% back on credit card charges on my debit card… yep, free money for using your debit card.
Super friendly, and they recognize me. Thanks for making me feel special guys, you give great service!
Free validated parking in the financial district. Thats right, free in the financial district! Also pretty close to BART.
Its a small chain of banks exclusive to Northern California. Bank small, bank in your community, and know your bankers. They have never made a mistake on my account, unlike the big banks. So friendly and small. What more could you want in a bank? Just stay away from their Wealth Management services, worst ever. This review is only for the regular banking services.

This is a great place for currency exchange. They offer competitive rates and excellent customer service. I finished my transaction within 5 minutes. Don’t forget to print out the 50% off transaction fee coupon.

I’ve used Mechanics Bank for a couple of foreign exchange transactions. The first time was in late 2010 when I was exchanging US Dollars for Australian & New Zealand currency. The most recent experience was a changing US Dollars to Indonesian and Chinese currency as well as exchanging Brazilian currency for US Dollars. The most recent transaction was the most «complicated» since I was trying to get rid of some excess Brazilian currency and gain two different international currencies. Unfortunately, you cannot change one foreign currency into another foreign currency (as I couldn’t change Brazilian to Indonesian or Chinese). I had to convert it to US Dollars first and then use American currency to buy whatever foreign currency I want. I don’t know the exact reason why you can’t change one foreign currency to another but that seems to be the case with other banks I inquired with. I’m sure they’re making more money in the process because they’re gaining on the exchange rates when you turn the money into US currency and then again when it goes to another foreign currency.
One nice thing they will do for you is maintain a single $ 10 fee (for currency exchange over $ 500 USD in value) regardless of how many foreign currencies you are looking to buy or sell.
The lone complaint I would have about them is that I had to order Chinese Yuan and Indoensian Rupiah since they did not have enough of each in stock. It took about 3 full business days and when the order did arrive in, I was informed that my Chinese Yuan and Indian Rupees were available!!! Currency check guys, Indian Rupees and Indonesian Rupiah are not the same!!! I made sure to say «Indonesian Rupiah» when I made the order over the phone to ensure this mixup didn’t happen but it did so they certainly did screw up on their end. Luckily they did have enough Indonesian currency on hand so I did not have to wait any further to drop by and get my moolah. I’d certainly come back to use these guys for future foreign currency exchange.

I went here recently to get currency exchanged. I went in on Monday to get some Thai Baht before I left on Friday. They made it incredibly easy! And gave me a good rate; the best that I’d found in doing research for places to go. Said it would be ready on Wednesday and I got a call on Tuesday that said I could pick it up whenever! Also, I decided last minute to grab some Korean money for my short layover there and they were like, no problem.
I didn’t have any currency left over from my trip, but they told me that I just needed to bring in my receipt to get whatever was left changed back into US money.
Very friendly people and their customer service is excellent.

A few years back I was having some issues getting a bank account. I made a boo boo when I came out west from DC, and well…
The Banks were none too pleased about it, regardless of the fact that I paid my debt… And had a letter stating so.
MECHANICS BANK SAVED MY LIFE! They were the only bank that would accept me.
When I stroll into the financial district of SF @ noon on a weekday, I get a few hairy eyeballs (What? No suit? No heels? Hair all undone… Welcome to the life of the wonderful self employed)…
But, none the less, I am easy to pick out of a crowd on a week day on Samsome Street. Perhaps that is the reason why all the people @ Mechanics Bank know me by name!
=D Or maybe they love me the way I love them! Hey… IT’S POSSIBLE!
They are so friggin nice. They cover all of my ATM Fees, I went far over my overdraft protection a while ago, and they sent me a letter letting me know I was a able to make a few boo boo’s again…
Oh! AND! They often have chocolate waiting @ the counter (fugga buncha dum dum suckers).
Basically, I have nothing but totally wonderful things to say about them, except ONE LIL THING.
Can we get more then ONE BRANCH here in SF? Please?
F-​Off Bank of America and Wells Fargo, Local is tha way to go!