Online bank transfers are, without a doubt, the simplest and easiest method of sending money to a friend, family member, or business partner located anywhere in the world. There is no need to physically sign a check, and the funds are immediately accessible for transfer at any moment. Consider using a VPN to protect your online bank transfers if you do them often.
Are you aware of the best practices for protecting your internet data?
Simply opening a private browser window to safeguard your internet data or evading geographically enforced restrictions is insufficient. The best option is to safeguard your online activity using a VPN.
VPN is an abbreviation for “Virtual Private Network.” Behind these words lies a technology that enables you to protect your internet activities. How? The goal is to virtually move your connection by creating an encrypted connection tunnel between your computer and a web server located anywhere on the globe. As a consequence, your IP address has changed and your location is concealed from anybody intercepting your data.
Third-party VPNs are often used to circumvent digital restrictions and prevent third parties from gathering personal information about your online activities. This practice is prevalent in countries such as Russia.
Bank transfers: convenient but insufficiently secure
Are you a frequent user of a VPN for online banking? If you haven’t already, you should, and today’s post will explain why. Because the security of your personal banking information has never been more in danger, our goal here is to demonstrate some of the best practices for further securing your online banking account.
All that is required to initiate an online bank transfer is the recipient’s personal information. These are the necessary components of the transfer order you need to submit to your bank. Then nothing is difficult; everything is accomplished with a few mouse clicks! However, keep in mind that since the Internet is not secure, any activities conducted via this public network are equally vulnerable to hacking. While current technology enables banks to secure their clients’ data by using HTTPS protocols on their websites, this is insufficient. To ensure maximum security, we suggest that you use a secure VPN that encrypts all data sent and received from your computer or connected mobile device.
Previously, banking was an in-person experience. To make a deposit or speak with customer care, you need to locate a branch and wait in line. With the advancement of web technology and enhancements to basic security, online banking has started to take hold. Mobile devices and browser-based account access have rapidly become the preferred methods of banking interaction. Now, all you have to do is log into your account online to deposit a paycheck or check your balance.
While banks use a variety of stringent security procedures to safeguard your information, they cannot defend themselves from all attacks. This is where virtual private networks (VPNs) come into play. While banking online, using a VPN may protect you from a variety of threats, including attempted identity theft.
VPN service, free or premium
Let’s be clear: you should never use a free VPN service in conjunction with an online bank. Never. Free VPNs are notorious for gathering and selling user data, sometimes going as far as injecting advertisements into users’ browsers and applications. If you sign up for one of the free VPN services advertised on mobile markets, it is conceivable that they may gather all of your personal information, including financial information, and sell it to the highest bidder. After all, you do not pay them, so they must generate revenue in some other way.
Using a reputable VPN service transforms you from a product to a client. Paid VPNs have every incentive to safeguard your data rather than store or sell it. Additionally, they are quicker than free VPNs and impose no bandwidth or file type restrictions on users. Additionally, they are very affordable.
Five reasons to use a VPN to protect your online banking activity
Are you still unsure of why you should use a VPN? We’ve compiled a list of the top reasons for using a virtual private network and keeping it active when doing online banking transactions. In this manner, you’ll maintain an additional degree of safety via the use of security procedures.
1. Your personal information is always secure
Banks protect data sent and received from online accounts using HTTPS encryption. While this is a positive development, it does not ensure anonymity, even on your home network. When connected, using a VPN adds a layer of encryption to your transactions, one that cannot be cracked by your ISP, bank, or even skilled hackers. It’s as if you’re building a private tunnel to the internet that only you can access, safeguarding your bank information and other critical data.
2. Your banking application is secure
Do you prefer to do your banking transactions online or via an app? Hackers and malware authors often target cell phones, mostly because the platform is simpler to access than a desktop computer. While banking applications encrypt data before it is transmitted from your phone, by using a VPN in the background, you can guarantee that no data is ever left exposed.
3. You may establish a connection through a public Wi-Fi network
Have you ever used a public access point to access your bank account? You should not have done so, since this is one of the most common methods of account opening. Public Wi-Fi is a breeding ground for hackers. When most individuals are at a café, motel, or restaurant, they pay little attention to the security of their portable gadgets. As if they were at home, they checked their email and input their credit card information. Without a VPN, this data is sent unencrypted over the internet, enabling anybody with the appropriate tools to use it against you.
VPNs and their encryption features allow for the secure re-use of public Wi-Fi. After installing and activating the applications on your laptop or smartphone, you may check your online banking account, read your emails, and even make transactions without fear of your information being stolen.
4. You may log onto your account while traveling
Banks are usually very cautious about granting access to accounts located outside of your native country. The majority of online services monitor IP addresses that connect throughout the day, comparing them to account holders’ addresses to identify stolen information and other kinds of fraud. This may create complications if you regularly travel outside the country. Simply crossing the border and logging into your account through a new Wi-Fi network or mobile phone tower may activate these fraud restrictions.
A VPN with servers located in your own country may assist you in avoiding such scenarios. Generally, online banks do not check to see whether you’re using a VPN. If you travel and enter a new area, just switch your VPN server to one in your home country. The next time you log in, it’ll be as though you’re sitting on your sofa checking your bank balance.
5. Certain VPNs provide protection against phishing
Phishing attacks are a kind of assault in which hackers try to recover usernames and passwords for accounts. They operate by substituting a requested website with bogus forms, sometimes going as far as creating an identical replica of your online banking account’s appearance. Generally, it is the user’s responsibility to prevent phishing schemes. Always verify the URL before entering any information and ensure that your browser’s green HTTPS lock symbol is active. By using DNS-level scanning to thwart hackers, VPNs often assist in preventing phishing attempts as well.
VPNs and online banking disadvantages
Using a VPN nearly always results in increased functionality, improved access, and private internet access. It is critical to utilize them for both routine surfing and sensitive activities such as online banking. There are, however, a few small disadvantages. The following are some frequent disadvantages and simple solutions.
Access outside the country
By using a VPN protocol, you may change your local IP address to one located in another country. For example, if you are in the United States but connected to servers in Canada, websites will think you are in Canada. Likewise, with internet banking. By logging into your account, you are sharing the IP address that is presently connected to your device, convincing the bank that you have left the country. This may result in a lot of fraud complaints being filed with the service’s security system since access from a foreign location often indicates that your account has been hacked. In the worst-case scenario, your bank may restrict your ability to connect with certain countries.
Even if IP addresses from other countries are creating an issue with your bank, there is often a simple remedy. To begin with, you may use a VPN with servers in your local country, which should be quicker than long-distance servers in most cases. Alternatively, call your bank and inform them that you are using a VPN or traveling often. These two justifications may permit them to temporarily stop protection against access fraud while traveling overseas. Bear in mind that if your account is hacked in this situation, you may be more susceptible.
VPNs are not permitted
Certain banks have begun to prohibit the use of VPNs entirely. Although this technique is not widespread and does not apply to all VPNs, users have reported seeing temporary access restrictions when attempting to join. You may immediately resolve this issue by deactivating your VPN and reconnecting it, or by contacting the bank’s customer service hotline and reporting the issue.
The most effective VPN for online banking
It’s never simple to maintain security while logging into an account online. Even the use of a VPN does not ensure your privacy. Choosing a reputable and recognized provider is critical to ensuring that your data is always secure. We provide the finest VPN service that enables you to have the greatest online banking experience possible. NordVPN is fast, safe, simple to use, and dependable, which reassures VPN customers that we have their backs.
Bitcoin VPN
Bitcoin is a widely used way of conducting online transactions on a global scale. This cryptocurrency enables financial transactions between two users’ computers, thus establishing a “peer-to-peer electronic payment system.” Bitcoin lacks a central authority or middleman, giving individuals more autonomy over their financial transactions.
All transactions are recorded on a distributed ledger known as a “blockchain,” which is accessible to all users and in their ownership. Bitcoin is popular because it avoids transaction costs, unpredictable currency exchange rate changes, and provides a measure of anonymity. However, Bitcoin is not entirely anonymous. The Bitcoin ledger is a public database, and if your Bitcoin address is associated with your identity, all of your transactions will be visible to third parties, governments, and all hackers.
How does a VPN protect Bitcoin?
Hide your IP address
If your IP address is disclosed in the course of a Bitcoin transaction, it may be recognized and your location may be determined. However, if you use a VPN, your IP address is anonymous—in other words, it cannot be traced back to you.
Encryption and anonymous browsing
VPN protection encrypts all of your internet traffic, avoiding the theft of your passwords and session cookies.
Our conclusion
VPNs are incredible technologies that have revolutionized how we use the internet daily. They restore online privacy, allow for geographical flexibility, and protect critical information, allowing us to check our bank or email balances without worry. In summary, using a reputable paid VPN service may significantly enhance your internet experience. As a result, you should choose a VPN.