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Is It Safe to Use a VPN for Online Banking?
Yes, it is safe to use a VPN while doing your online banking. Whenever you’re traveling, using public Wi-Fi at a hotel, coffee shop, or restaurant, you should use a VPN to keep your information from the prying eyes of internet hackers. We recommend that you don’t do online banking on public Wi-Fi, but if you have to, it’s important to use a VPN. When you use a VPN for online banking, you ensure that your account information is kept private.
With online banking, you’re using personal information, bank account numbers, secure passwords, and in some cases, social security information. If hackers see your information while you're online banking, they could steal money from your account, make you a victim of credit card fraud, or even steal your identity.
When should I use a VPN for online banking?
You should always use a VPN when online banking. If possible, only do your online banking when you're at home (not using public Wi-Fi). However, even when you’re home, you should use a VPN for added privacy. This is especially important when online banking. Many people use VPNs on tablets and laptops but forget about their phones. However, your phone is susceptible to hackers especially if you use mobile online banking apps.
Have you ever sat in a coffee shop while working on a work project and then wanted to check the amount of money in your bank account? I know from personal experience, I always want to check private information at the most inconvenient time.
As soon as you log into your mobile banking app, your information is exposed for cybercriminals to steal. Remember to install a VPN on all of your devices, not just your laptop. Many VPN providers offer connections on up to five devices or more per individual plan. Take advantage of this deal.
Is there anything I shouldn’t do when using a VPN for online banking?
As a matter of fact, yes there is. If you’re using a VPN for online banking and you keep switching your server location, it’s almost a guarantee that your bank will notice. Choose a server location, and stick with it. That way, your bank won’t freak out, and it won’t seem like you’re unexpectedly traveling the world.
Your best option is to connect to a server in the same country as you when doing online banking. If your bank blocks one of your transactions because they think it’s fraud, you can always call them and let them know it’s you.
How does a VPN help keep my online banking safe?
Your online banking is safer when you use a VPN because your information is encrypted. Instead of connecting straight through the public Wi-Fi, the VPN allows you to access the internet through an encrypted “tunnel.” The VPN tunnel gives you the ability to use the internet with more freedom, privacy, and safety. Once your data travels through another server, it cannot be traced. And if there’s any info you don’t want cyber criminals tracing, it’s your banking information.
How much does a VPN protect me when I am online banking?
Even though a VPN will help protect your privacy considerably, a VPN cannot guarantee that you won’t be hacked. Whenever you do online banking (whether you have a VPN or not), make sure you use a secure password and practice good internet safety habits. If your banking password is the same as your Twitter, and your Twitter gets hacked, your banking information is also compromised.
A VPN will help protect your privacy and will certainly help you when online banking, but only you can create a secure password. Remember, a VPN is a tunnel that encrypts your data. It cannot protect you from viruses or guarantee that you won’t be hacked. If you want to maximize your safety, make sure you change your passwords at least once a year to lower the chances of being hacked. It helps to create a password with random characters to make it harder to guess. After following internet safety, just make sure you use a VPN when online banking.
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