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Is Using VPN Safe for Online Banking?
Security / Tips and Tricks /

Is Using VPN Safe for Online Banking?

A straightforward answer - yes! Absolutely.

But don’t most banking websites have stringent and powerful security protocols that possibly no hacker can bypass? Yes, they do. So when and why would I need to use a VPN for online banking? We’ll try and answer all such questions in this post. So, read on!

Why is VPN A Great Tool for Safe Online Banking?

At the outset, a VPN encrypts your data much before it departs from your device. This means no onlooker can see your traffic. More specifically, your data first hit a VPN server where your IP address is changed. In such a case, your online destination perceives your data coming from the location of your server. Now, let’s see how this can cement your online banking security in real life.

Also Read: All About VPNs: What is a VPN and What does a VPN do?

When Should You Use A VPN For Online Banking?

– Use A VPN When Banking Online Over A Public Wi-Fi

VPN Over Public Wi-Fi
Source: titanhq

 

Example – You are at an airport when suddenly you need to email a bank statement to your banker which is a requirement for a loan that you want to take. Would you hastily log into your bank’s website without any security layer? Without a VPN on a public-Wifi, you are in grave danger.

The need to conduct an online transaction can arise anywhere – whether you are at an airport, at a cafe, or a shopping mall. Hackers often love to thrive on these spots since many a time the networks that these spots entail are bereft of passwords. Moreover, many shrewd hackers replicate the Wi-FI network of such places which are easy to fall prey to. Needless to say, the moment you log in to your banking website, a hacker has free access to all your details.

– When Conducting Transactions While You Are Traveling?

Transaction While Travelling

Example – You are traveling to a country. A transaction from this place could come across as identity fraud to your bank as has happened in the past. You have forgotten to inform your bank about your travel and you need to conduct an online transaction of large funds. What would you do? We urge you to use a VPN when traveling.

Your bank cares for you a lot. And, that is the reason why it may block your account in case it notices a transaction from an unknown foreign location. In such a case, you can switch your VPN on, select the server in the country where your bank is located, and then conduct an online transaction.  

Also Read: Best VPN Services for Travelers

– A VPN Safeguards You When You Are Using A Mobile App

Example – A malware has recently hit an app that is known to mimic banking websites and their apps. You notice that it is the same app that you have installed. What would you do now?

In this digital age, we often conduct banking through mobile apps and third-party apps which often redirect a user to a mobile banking app. In the past, incidents have happened where hackers have exploited this phenomenon wherein they either hacked the third party app or mimicked a bank’s website. A VPN ensures all-around protection in such scenarios where funds are being sent to and fro.

VPN For Bank Apps

– When Your Transactions Need To Be Private, Very Private

Example – You have ventured into an online business where you are required to make frequent payments to a client and are also required to dispatch salaries to your employees. You use the same current account to do both the transactions and have to enter crucial employee and client details for the same. In this case, you are not just responsible for your finances but you are also accountable for your clients’ and employees’ finances as well.

Which VPN Should I Use? And, How Would One Secure My Online Banking?Going by this subheading, you might say – even the smallest of my transactions are private. True that! But, let’s assume you conduct high-end transactions regularly or conduct transactions involving your clienteles’ or employees’ details. These details don’t just include the amount that has been transacted but even details like account number, check MICR codes, financial system codes, personal details, credit history, etc.  It goes without saying that if a hacker intercepts such transactions, not only will your finances be in danger but you will also be putting your clients’ or employees’ finances in soup. You don’t want that to happen, do you?

We have compiled a list of some of the best VPNs for Mac, iOS, Android, and Windows. Systweak VPN, for instance, is one of the best VPNs for Windows which also happens to be one of the best VPNs for online banking. With regards to what we have discussed above let’s see how Systweak VPN can help secure your online banking –

  • To begin with, with Systweak VPN you can rest assured that your real IP address and location will never be disclosed
  • 4500+ Servers across 53+ countries spread in 200+ locations. As we said, it shouldn’t be difficult for you to choose a server where your bank is located
  • AES 256-bit military-grade encryption – No hacker can barge into your connection, thanks to this military-grade security
  • Strict no-logs policy
  • Availability of kill switch – In the event, the VPN connection fails, this feature will automatically disconnect the internet
  • OpenVPN and IKev2 – The protocols ensure superb speed while at the same time help not being detected by firewalls and filters

How Simple Is It To Use Systweak VPN?

When you have an urgent online transaction on which probably your life depends, you need a VPN that’s easy to use and as far as Systweak VPN is concerned, it is one of the easiest VPNs to use. All you need to do is –

1. Download, run and install Systweak VPN

Systweak VPN on off

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2. Log in with your credentials

3. Choose a server

4. Toggle the ON/OFF switch to ON

And, that’s it! You are good to go.

Read Full Review of Systweak VPN

Wrapping Up

Being armed with tools like VPN helps you strengthen your online banking safety and if you second this, do let us know in the comments section below. If you found the blog interesting and of value, do share it with people you care about. For more such content, keep reading Tweak Library.

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