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Panacea Financial, a division of Primis Bank, deposit products:
FDIC-Insured – Backed by the full faith and credit of the U.S. Government

PERSONAL
Checking & High-Yield Savings Accounts

Checking and high-yield savings accounts for doctors, doctors-in-training, and their families! Take advantage of the free checking and high-yield savings accounts online without the hassle.

FDIC-Insured – Backed by the full faith and credit of the U.S. Government

Banking Made Easy

High-Yield Savings Account - 4.30%

Our Panacea High-Yield Savings Account offers an excellent rate over 9x the national average3 – 4.30% APY2. Open your account in minutes with as little as $25.

Our Panacea Checking Account is designed with you in mind with free ATM use nationwide, no overdraft fees, and a custom debit card.

Best of all, our mobile apps and online banking provide maximum flexibility and convenience. If you want to speak with us, we’re always available 24 hours a day, 7 days a week.

Ready? You can open your account online in as little as 8 minutes.

Checking

  • Available to doctors, doctors-in-training, & their families!
  • FREE ATM use nationwide1
  • FREE incoming & outgoing domestic wires1
  • FREE checks
  • FREE cashier’s checks & stop payments
  • NO overdraft fees

High-Yield Savings

High-Yield Savings Account - 4.30%

Available to doctors, doctors-in-training, and their families!

  • 4.30% APY2 – over 9x the national average3
  • Open an account with as little as $25
  • Fund your account for free!1
  • FDIC insured4
High-Yield Savings Account - 4.30%

High Balance Deposits

  • Insure balances up to $125 million!
  • Insured Cash Sweep (ICS) Accounts protect deposits tied to each tax ID
  • Protection backed by the FDIC and full faith of the federal government
  • FDIC protects up to $250,000 per ownership category
  • Learn how to secure up to $125 million per tax ID, for free

High Balance Deposits

  • Insure balances up to $125 million!
  • Insured Cash Sweep (ICS) Accounts protect deposits tied to each tax ID
  • Protection backed by the FDIC and full faith of the federal government
  • FDIC protects up to $250,000 per ownership category
  • Learn how to secure up to $125 million per tax ID, for free

FAQs

Who is eligible for a checking and savings account?

Our totally free checking and high-yield savings accounts are available to doctors, healthcare workers, doctors-in-training, and their families!

Where do I get money from an ATM?

With a totally free Panacea Checking Account, you can use any ATM in the country and we'll reimburse you all the fees at the end of your statement cycle. It's totally free!

Where can I use my debit card?

Our debit cards are on the VISA Network - accepted by 44 million retailers and in over 200 countries around the world. Take your card everywhere!

What is a high-yield savings account?

A high-yield savings account is a savings account that can offer a much higher interest rate than a typical savings account interest rate.

How does a Panacea High-Yield Savings Account compare to others?

Panacea's High-Yield Savings Account differs because of no minimum balance, 24/7 support, FDIC insured and more! Current digital high-yield savings account rates have similar rates, but may require high minimum balances.

Is there a minimum amount needed in the high-yield savings account to get the best rate?

No! The minimum amount to open our online high-yield savings account is $25, and you will get our best rate on every dollar in your account, at any amount.

How long does it take to open an account?

Our application process takes just 8 minutes, and we can have your account open and funded in as little as one business day. Start using your account today!

Is there overdraft protection?

All of our accounts come with free overdraft protection.

What are the benefits of a high yield savings account?

A high-yield savings account can help you save money faster in a safe and accessible way. When your account earns a higher annual percentage yield, your money grows faster than a regular savings or checking account. Simple as that.

Can you lose money in a high-yield savings account?

A high-yield savings account doesn’t come with the volatility of the stock market, so you’ll never lose any of your principal on a bad day. Instead, you’ll have a fixed interest rate, and your money will always be growing.

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