With the current rise in cybercrimes, fraud and theft, it’s important that security measures remain active in everything you do – most importantly while using banking apps.
There are situations when using banking apps to transfer, deposit, or check transfer statements can get quite risky, especially if you’re using them out in the open while connected to public Wi-Fi’s. In fact, there have been cases of account theft, hacking, and much more while trying to access these bank apps.
But don’t worry! There’s still a way for you to securely access your banking apps with the help of a reliable VPN. However, are free VPNs just as safe to access banking apps? We’ll get to that a little later on, but first, let’s cover all the basics on why a VPN is a safe option to use while accessing your bank applications.
Are VPNs a good option for online banking?
Yes, using a VPN for online banking is one of the more recommended ways to remain cautious from external threats. This is true since most of us, without any given thought, access bank apps while on the go. It can be while connect to public Wi-Fi’s at a coffee shop, the airport, bus station or other areas.
It is never a good idea to connect to free or public Wi-Fi because it comes with its own set of risks. It is also one of the reasons using free VPNs aren’t the best of ideas.
When you’re doing online banking, you’re dealing with sensitive passwords, looking up personal information, handling account statements, account numbers from various payees, and more. If any qualified hacker attempts to break through, you can lose a whole lot of money.
It is why using a VPN is one of the safer ways to access online banking apps and more, which do not offer encryption.
How to choose a VPN for accessing online banking apps
Not all VPNs are reliable, nor are they strong enough to secure your connection while using apps for banking. So, with that said, here’s how you can choose a VPN for it:
- Must offer the highest levels of encryption
- Fast servers
- Allow access to numerous regionally or locally blocked content
- Shouldn’t log user data
- Offer dedicated IP for extra protection
- Have numerous security features like Split Tunneling, Ad-blocker, kill Switch and more.
- Offer a free trial
- 24/7 support chat
- Multi-device connections and support
Rules to keep in mind while using a VPN with your banking apps
Even though a VPN does offer a great deal of security while using a banking app, there are some rules to keep in mind. For starters, make sure you are not constantly switching between servers. When you appear in a different country constantly, your bank might get alerted that someone either hacked your account or that you’re constantly on the move throughout.
If, however, you need to switch servers, make sure you don’t do them one after the other. Take some breaks. The best thing you could do is stick to a server of the country you’re in. This way, it is not only easy for you to access your banking app, but this way your account managers won’t be alerted that you’re committing fraud.
So, are free VPNs the best for online banking?
It’s a fact that free VPNs or any software that are free always come with a price. The thing about free VPNs is that it not only is it unsafe, but, doesn’t quite match up in features and performance as compared to a premium provider.
As compared to a premium VPN, a free provider doesn’t offer many servers. You might not have many options when choosing a server for a particular region. For instance, you’re in the US, and travel to India. Without a US IP, you won’t be able to log into your US banking apps. So, there’s no guarantee that a free VPN offers a US server or others.
Secondly, free VPNs often don’t come with the best security features like a Kill Switch, Split Tunneling, or top-level AES 256-bit encryption.
To an extent, almost anyone can attempt and most definitely succeed to hack into your apps and steal money, and other data.
