Individuals often prefer spaces with free hotspots in online transactions and nearly everything going online.
These hotspots are not as protected as they should be and put the user’s data at risk. With nearly half of the population relying on open Wi-Fi spaces, only a few know how dangerous it can be to their privacy. It is why it is important to use VPN to access online banking.
Once you connect to a Virtual Private Network (VPN), it encrypts the internet traffic, and no one can read it. No one can trace your actual IP address if you use VPN. It is ideal, especially when you are off on a trip.
The blog is all about the steps to ensure safe online banking using VPN.
7 Strategies VPN Can Help Ensure Secure Online Banking
A VPN creates a secure connection to the VPN provider’s server once enabled. One cannot track any details online with it.
To talk about banking, if you access online banking without a VPN, hackers can easily access your login credentials, name, and email id. They can use it to steal money or identity.
If you use VPN, it safeguards your online banking details and keeps them away from spying eyes.
You must check the URL before clicking on any link.
Generally, the link starting with HTTPS are safe. It uses encryption to prevent your internet provider and anyone else in the network from interfering with your connection.
You must verify your connection and check whether it is protected by HTTPS.
However, VPNs can provide extra protection than HTTPS. Here is how you can safeguard your online banking with VPN:
1) Ensure that your device operates on the latest version
Making sure that your device is operating on the latest operating system is one way to ensure safety from online hackers.
One often denies or delays the upgrades that the device asks one to.
It is always ideal to do so as the update may help strengthen the security that may help attack the malware and prevent your device from unauthorised transactions and sensitive information breaches.
2) Avoid giving away any personal information
One of the most common phishing scams is – the scammer’s trick to get sensitive information- like Login Id and Password. They use it to get access to your bank accounts.
Fraudsters often send emails or text links that seem identical to the financial institutions you usually deal with. It dupes one into believing that it is the bank requesting you the information.
However, banks do not ask for any such personal information. So, stay away from such requests.
Do notice some red signs before clicking the link or going forward with the login. Identify. Identify:
- The domain name that does not match the actual domain name
- Check the spelling and grammar
- Contact the bank to confirm the same
3) Hide the bank name you use on public Wi-Fi
HTTPS prevents your connection and activities when you connect to Wi-Fi in a restaurant, airport, or stadium. However, it does not hide the website you are surfing.
It implies that hackers could easily see the bank you use via the website. They can use this information as a motive for phishing attacks.
However, if you use VPN before connecting or clicking a website link, the connections will get encrypted using one of the VPN servers.
The public hotspot user may use an IP address but not the website or activities you use for transactions.
4) Only stand by a trustworthy VPN connection
When you connect to a VPN, it essentially replaces your ISP. It manages your internet connection.
As it does the most important job of monitoring and safeguarding your actions, it is critical to use the best one. It is better than using a VPN that fails or compromises your information.
Here are the qualities of a good VPN:
- It should have a high speed with limited latency issues
- It should provide multiple servers for you to find the best one for your needs
- The encryption should be strong enough to keep your data safe from intruders
- It should not save log in details and offer additional features like double-hop encryption and kill switches.
- It should have reliable customer support 24/7 to counter any issues quickly.
5) Use VPN to access your bank account while outside the country
Most companies restrict your banking application if you try to use your banking application while travelling. It is because most companies do not believe it to be safe for the customers.
However, if you still want to access it without potentially risking your online banking security, you can do so with a VPN.
As mentioned above, a VPN helps hide the IP address of the device you use for online banking. But you can better access VPN in your home country than in a non-native one.
6) Enable 2-factor authentication on passwords
Many banking institutions call for a 2-factor authentication to eliminate any possible threats to online banking. It implies more than simply setting a password and username would be required.
You must complete a second step, like answering a security question or copy-pasting the code sent to you by SMS. Thus, use the best alphanumeric combinations to guard your things against the force.
7) Type the URL of the website instead of clicking it
Not many adhere to it, but it is an impactful trick. Individuals are used to clicking the link they see in text messages or emails. And this leads to online fraud.
To prevent this, manually type the link in the Bank’s URL website. If it is authentic, it will encounter no issues; if not, it will never open.
However, if you feel unable to access your credentials, run to the bank immediately. It will require you to follow up on some legality. Unemployment is the greatest obstacle to situations like these. It requires one to have some upfront cash.
A delay in finding one can further compromise your online banking security and personal identity. You can get cash if you are on benefits and need a loan today to act immediately. Counter legalities immediately and safeguard your banking concerns.
Bottom line
These are some ways to safeguard your online banking through VPN. Always choose an authentic one for your needs. VPN is the best way to browse online backing and conduct any activity without worries or security probes.
Having worked as a research analyst for 10 years, Archie developed his interest in consulting people struggling to manage money and now working as a Financial Consultant at Onestoploansolution. He is postgraduate in banking and accounting. For his a normal day starts from assessing the application and helping borrowers with getting more control over their finances. Archie Leo contributes to the finance blog of the company where he has written a lot of articles covering a wide range of topics such as budgeting, investing, saving and building wealth. His goal is to make people’s life easier with money.
