Panacea Financial Reviews 540

TrustScore 4.5 out of 5

4.6

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Rated 5 out of 5 stars

I have tried multiple other loan refinance companies in an attempt to consolidate and/or refinance my student loans. They always seemed to find a reason to decline my application. When I found Panacea... See more

Rated 5 out of 5 stars
Verified

I opened a high yield savings account and a checking account. I'm not a doctor or medical student but these accounts are available to everyone. I'm amazed by the account features and benefits. Unli... See more

Rated 5 out of 5 stars

Worked with Parker for a physician resident loan. Honestly the whole process was much less complicated than expected. Everything was done online and start to finish took just a couple of days. After b... See more

Rated 5 out of 5 stars

I was doubtful that any bank would give me a loan, but Panacea not only approved me but at a very reasonable interest rate, much lower than any credit card I have. The interest only payments during re... See more

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Company details

  1. Bank

About Panacea Financial

Written by the company

At our core, we are a nationwide digital bank, formed out of passion for improving the lives of medical professionals. Panacea Financial is a company founded by physicians offering a full suite of banking services to physicians, dentists, veterinarians and podiatrists at all stages of their career. Our founding partners and advisory board have decades of experience as practicing physicians and within the finance industry and as a result, we recognize the unique challenges doctors have with traditional lenders. We are a Division of Primis Bank, a publicly traded and state chartered member of the FDIC.

Contact info

4.6

Excellent

TrustScore 4.5 out of 5

540 reviews

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1-star

Replied to 75% of negative reviews

Typically replies within 1 week


Rated 5 out of 5 stars
Verified

Jake (banker) did an excellent job with…

Jake (banker) did an excellent job with reviewing everything and getting back to me in a very timely manner. Appreciate his professionalism and willingness to learn about my personal situation and needs. Highly recommend using Panacea and Jake!

August 6, 2025
Rated 5 out of 5 stars
Verified

I have so many things to say about this…

I have so many things to say about this company!!!
The best of all, I applied the PRN loan when I was in urgent need of money. Guess what! In 1 to 2 days I was approved and received it.

I recommend. Whoever thinks it’s not real! Just give it a try you will thank me later.

July 17, 2025
Rated 1 out of 5 stars

dont waste your time

dont waste your time, most other lenders will have better rates if you have good credit. Unnecessary and excessive paper work requests. Thanks to this I cancelled my request and found much better rate from my local bank. If you are a healthcare provider you can do better than this company and deserve better.

June 4, 2025
Unprompted review
Panacea Financial logo

Reply from Panacea Financial

Hi Dr Castillo -

I'm terribly sorry to hear of your frustrations. I'd love to learn more about what you didn't like about our process, and what we can do better next time.

I'll send you a message, but please also feel free to reach out to me directly at ned.palmer@panaceafinancial.com.

Thanks,
-Ned Palmer, MD MPH
COO, Co-Founder

Rated 1 out of 5 stars

Awful service after paying off loan

After paying off my loan, the account was removed from my dashboard. Now I can't show proof to a mortgage lender that the loan was paid off, and the company has failed to provide me with proof after multiple requests and weeks of waiting.

May 21, 2025
Unprompted review
Panacea Financial logo

Reply from Panacea Financial

Hi Dr Figg - I am terribly sorry for your experience; we never want to waste our doctor customer's time. I've reached out by email but haven't heard back from you, so wanted to make sure I replied here as well.

I'd like to connect and hear more about what happened so this never happens again. My email is ned.palmer@panaceafinancial.com.

My apologies again,
-Ned

Rated 5 out of 5 stars
Verified

Panacea makes the loan process easy

Panacea is easy to work with; the process of setting up accounts, applying for loans, and communicating with the Panacea team is really efficient. Joe Durocher made my experience fast, and he answered all my questions quickly and with detailed responses. I recommend Panacea to anyone that’s thinking about changing financial institutions or applying for loans.

April 22, 2025
Rated 5 out of 5 stars

Great Experience

Sara Novack was great! She always got back to me in a timely fashion and answered my questions/concerns thoroughly. I also appreciate the quick turnaround time for loan approval. Highly recommend Panacea Financial!

February 5, 2025
Unprompted review
Rated 5 out of 5 stars
Verified

What made the experience great…

What made the experience great was definitely the ease of use of the application. But mostly the Panacea representative that helped me with emails on staying in touch through secure text messaging and phone calls throughout the application process. Ms Sara Novak was very professional, sincere, concise and her attention to details was incredible. I would command her for her patience and help.

February 14, 2025
Rated 1 out of 5 stars
Verified

Would not recommend this company.

I am very disappointed with this company. I expected more support as a struggling resident since this company caters to physicians. Other companies grant loan deferrals while in medical residency but this one does not. Even after repeatedly showing proof of my finances they were unwilling to work with me in my budget or grant a deferral of even 1 year. I will not be using them in the future and would advise other residents to seek other financial options.

February 13, 2025
Panacea Financial logo

Reply from Panacea Financial

Hi Dr. M. - I'm terribly sorry for your frustrations. We absolutely understand the challenges of balancing finances during residency, and this is why we founded Panacea. In this case, you would not make an $11 payment despite being asked repeatedly. We offer reduced payments, but you asked to not make a single payment for over 2 years which we cannot do as a bank.

Please reach out to me at ned.palmer@panaceafinancial.com as I'd like to discuss and understand better what happened.

Thank you,
-Ned Palmer, MD MPH
COO, Panacea Financial

Rated 5 out of 5 stars
Verified

Unique experience

Honestly, I could ask for a better experience than the one I got from this team. Usually I’m always busy and almost never have the time to deal with my own personal stuff. My case was handled by Sarah and she help me through every step of the way. I explained to her how I was in residency and how I needed to relocate and well she got me the help I needed. There are a few sketchy post out there, but I assure you, panacea financial are 100% ideal for those people like us.

November 13, 2024

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