Anyone who uses online banking will understand the importance of remaining safe and secure online. While you might think you are doing everything in your power to keep your details safe, you may be at risk of having your identity and information stolen or becoming a victim of fraud.

What Can You Do To Keep Yourself Secure?

With virus and anti-malware installed, you have everything in place to keep you secure when banking online, right? Wrong. While they do help to some extent, if someone wants to steal your information, they can. One way of ensuring your security when banking online is a virtual private network (VPN).

A VPN allows you to secure your data online by encrypting it before it leaves your computer and goes online. No one can see your internet traffic and you remain sheltered behind a fake IP address with your own hidden. This means anyone who is snooping on you cannot see your real IP, in fact, you can have an IP address from anywhere in the world.

Situations Where You Should Use A VPN For Online Banking

There are certain situations when using a VPN for online banking is to your advantage.

Anyone Dealing With Any Type Of Transactions Online

Anyone who undertakes online transactions should consider using a VPN. This is not just checking your personal bank balance or transferring money between accounts, it also applies to sending employees’ salaries at work and when making payments to clients. If you do not have a VPN in place, any transactions you make might be accessed. This may include information such as your bank details and names - information that could be used to steal money or steal your identity.

With a VPN in place, any traffic is encrypted so online banking transactions and personal information remain safe and secure. When considering VPN providers choose one that has no logging policies. This means that the provider does not keep logs of your online actions. NordVPN is one such VPN provider.

Online Banking Using Public Wi-Fi

A VPN is essential if you really have to sign into your bank account for online banking when using public Wi-Fi. Many internet cafes do not have passwords, leaving you wide open to hackers.

Some hackers will go as far as to create Wi-Fi networks and make it appear as if it is an official free Wi-Fi network. In reality, it is a gateway set up by a hacker.

With a VPN, your IP address and location remain hidden away and no one connected to the same network as you can hack into your computer.

Online Banking On A Mobile Device

You might undertake mobile banking on a smartphone or tablet, through either a banking app or a browser.  Again, a VPN can come in very handy to protect your confidential data. NordVPN is a great choice if you use multiple devices for online banking as it allows connection for up to six different devices.

Points To Consider When Online Banking

Here are some things you might want to consider in regards to remaining safe and secure when online banking.

Be Wary Of Using Free VPN

In the case of online banking, we do not recommend use of a free VPN provider. There are some providers offering a free virtual private network and they go on to log and sell the data of their users. This could leave you vulnerable to your banking details or account numbers and passwords being stolen.

Your Changed IP Address May Raise Suspicion With Your Bank

Often when using a VPN people choose to have an IP address that falls outside of the country in which they live. While this is fine if you want to access content that is not available in your country, it is not so good for online banking.

Your bank may see that someone is logging into your bank account from a different country or countries, if you are changing your fake IP on a regular basis. The bank could believe that someone other than yourself is accessing your account and block your account or spending on your card.

Failing To Take Precautionary Measures

While having a VPN in place is a step in the right direction, you should also not fail to take other precautionary measures. This includes keeping your computer up to date, updating the operating system, updating anti-virus and anti-spyware.

Choosing Solid Passwords

Many people make the mistake of choosing passwords based on their date of birth or other things that are easy for hackers to guess. It is essential to choose passwords that would be virtually impossible to guess. Ensure that you add in some numbers, letters, and characters.

In Conclusion

A good VPN is a valuable tool when undertaking online banking as it works alongside virus and anti-spyware to provide an additional layer of security. Hackers will find it very difficult to snoop on you and steal your private details if you use a provider that offers military-grade encryption, does not log your every move, permits you to connect different devices and offers a wide choice of servers.

Choices of VPNs to use when banking online include NordVPN, ExpressVPN, CyberGhost or IPVanish.