How to Safely Access Online Banking With a VPN
Online banking is a convenient means of transacting in the modern day. Meanwhile, online banking has grown globally and is accepted for making payments and other transactions. But the use of the internet is risky. Many cybercriminals are looking for victims online, and constant internet usage may expose you to cyber-attacks.
Furthermore, having your financial details stolen by tech-savvy criminals will not only put your finances at risk but can also land you trouble. In 2022, a total of $8.4 trillion was lost to cybercrime. Hence, protecting your details while using online banking is vital.
However, various measures and tools can keep your online activities safe. A Virtual Private Network (VPN) is one of the common tools to protect your details online and encrypt your banking data. This blog post will discuss what VPNs are and how to use VPNs to keep your online banking services safe.
What is a VPN?
A Virtual Private Network is a tool that routes your encrypted internet traffic through a private tunnel, keeping your Internet Protocol hidden. This tool makes it difficult for hackers to trace your internet activities and IP address, keeping your online activities safe and anonymous.
Why do I need a VPN for online banking?
Online banking usually needs some sensitive details to set up. You’ll need account numbers, personal and financial data, credit card details, and others. All this information must not get into the wrong hands but going online can expose you to cyber attacks, especially if you don’t take essential security measures.
However, with Virtual Private Network, your data is kept safe and untraceable. A VPN channels your information through encrypted channels that hide your online activities and the IP address from hackers and even Internet Service Providers (ISP). Also, the anonymity makes it difficult to hack your connection.
How do I choose a VPN?
With many VPN providers, choosing the right one may be tough. However, there are some essential factors to consider before selecting a VPN. These factors are security, speed, unblocking feature, user-friendliness and support, and supported devices.
Security
An ideal VPN to use with your online banking should have great security features. Examine if the VPN’s encryption is strong, like 256-bit AES. Also, check for a kill switch, no logs policy, DNS, and IPv6 leak protection.
Speed
Online banking requires high speeds, and using a slow VPN could result in failed transactions which can be frustrating. Hence, it is essential to consider the speed before choosing a VPN.
Unblocking Feature
Your VPN needs to have a strong unblocking ability. Most online banking block VPN usage. Hence, your VPN’s ability to stay undetected is important.
User Friendliness and Support
Accessibility of your VPN is also vital. It must be easy to use and also have great customer support. Excellent customer support, like live chats and multi-platform support, ensures you get proper assistance.
Supported devices
Consider the device and operating system compatibility of your VPN before choosing one. It enables its usage across computers, smartphones, across many operating systems.
How do I set up a VPN?
Setting up most VPNs is simple and doesn’t take much time; you’re done within minutes. Meanwhile, consider the factors mentioned earlier to select a suitable VPN provider. Follow the steps below to set up your VPN easily.
- Sign up for your preferred VPN provider
- Download and complete your VPN software installation
- Sign in to your VPN account using your login details
- Connect the VPN to your server, and your online banking data is encrypted and safe.
What are some other benefits of using a VPN?
Besides keeping your online banking activities safe and private, there are other benefits of using a VPN. Below are other benefits of VPNs:
- Makes your internet activities free from ISP surveillance;
- Helps you access restricted and blocked websites;
- Enables safe and easy remote working;
- Ensures the safe transfer of data;
- Can save some costs.
Conclusion
While enjoying the convenience of the online banking system, it is essential to be aware of the risks involved. Online banking is normally safe, but not taking proper measures can expose your financial data to hackers.
However, using a VPN will encrypt your online banking activities and details, making it difficult for cybercriminals to breach. Likewise, VPN enables you to work remotely and access blocked data, amongst other benefits.