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Should You Use a VPN for Banking in 2023?

Bank account holders have always been prone to cyber threats! Back in 2021, up to 20+ million accounts were breached in the USA. So, how can one have a safe and secure banking in 2023?
VPN for Banking

A VPN or Virtual Private Network can help you get secure access to your online bank accounts without exposing your financial information on vulnerable networks.

Let’s see all the ways a VPN can secure your online banking.

Is Online Banking Safe Without a VPN?

Although HTTPs is ubiquitous and has made the web safer, there are certain threats that you need to be aware of. Especially when you have to visit a bank account using a public Wi-Fi, or even your home internet. In both conditions, your data is not entirely safe to prevent your confidential information from potential threats.

In contrast, a VPN can make your online banking much safer. OysterVPN uses its encryption to create an encrypted tunnel on top of the HTTPS encryption for stronger protection; one that prevents any third party from eavesdropping on the communication.

Threats such as Man-in-the-Middle (MITM) can steal your data by redirecting you to fake login pages or leveraging a vulnerability in the connection.

When Should You Use a VPN for Banking?

Whether you are traveling, using public Wi-Fi in a restaurant, hospital, or at the airport, you can opt for the best VPN for banking that can keep you safe online.

Here are some of the situations where a VPN can prove useful:

When Making Online Transactions

Transferring money using Wi-Fi can sometimes lead to a disaster. Whether it is your name, account details, password, or even your bank account username, without a VPN, all your sensitive information can be breached.

When Using Public Wi-Fi

We usually have to connect our devices to public Wi-Fi, especially when traveling. But do you know that hackers can set up fake Wi-Fi access points to get access to your data? The best thing you can do is upgrade your security using a VPN for banking.

When Using Mobile App

Do you often make transactions using mobile applications? Mobile devices aren’t even safe from hackers as you may think. Connecting with a VPN can save your online banking by adding a layer of encryption. However, you must always update to the latest version of your mobile operating system and banking apps to patch any existing vulnerabilities.

Do You Know That? Hackers launched a massive digital heist on Malaysian National Bank in which they tried to steal up to $390 million in March 2018. They used fraudulent wire transfer methods using the SWIFT system.

Is Incognito Mode Safe for Online Banking?

Incognito Mode or Private Browsing mode only blocks cookies so that websites can’t recognize you. Blocking cookies does nothing to prevent the cyberthreats that we have discussed.

Incognito/Private mode still rely on browser-based encryption that not only exposes your DNS information but other vulnerabilities such as SSL stripping and redirections.

How OysterVPN Makes Online Banking Safe

OysterVPN has several advanced features at its core that strengthen security for online banking.

  • Powerful encryption: OysterVPN uses AES 256-bit encryption that is the best symmetric encryption available for securing data. No one except the sender and the receiver can decrypt the data packets containing your financial information.
  • Internet kill switch: Disconnects your device from the internet in case of sudden VPN interruption. This means you won’t leak your information if the VPN’s encryption is lost.
  • Block ads and malware: OysterVPN can block intrusive ads and pops to give you a flawless browsing experience. It can also block known malicious domains.
  • Simultaneous multi-Logins: With a single OysterVPN connection, you can connect up to 5 devices simultaneously.

Tips for Secure Online Banking

A VPN goes hand-in-hand with the best security practices. There are certain things you must never do that can make you vulnerable to cyberattacks.

  1. We strongly advise against using any free VPN service. They are a security and privacy risk and they use weak encryption and log and sell your web activities.
  2. Don’t change your location when accessing the bank using a VPN! This is why usually banks ask you to notify them when you decide to leave the country. The bank might find it suspicious activity.
  3. Don’t visit any suspicious sites. Before visiting any site, make sure that it contains HTTPS rather than HTTP in its URL.
  4. Always use a strong and unique password for your accounts. Don’t reuse passwords across multiple accounts as you can be a victim of Credential Stuffing. Use a password manager to store unique and strong passwords.
  5. Use an antivirus with a VPN. The VPN will protect your data while it’s being transmitted over the internet and the antivirus will actively scan and catch any malware that is designed to steal financial information.
  6. Use an antivirus with a VPN. The VPN will protect your data while it’s being transmitted over the internet and the antivirus will actively scan and catch any malware that is designed to steal financial information.

The Best VPN for Banking

As the best VPN for banking, OysterVPN utilizes AES 256-bit encryption wherever possible. AES is a prominent encryption protocol with no known vulnerabilities. Your banking data will be encrypted from the device to the VPN server.

We are based in Ireland and operate on a strict zero-logs policy. Our policy guarantees that we will never track or log your web activities. We do not know what banking services you use.

OysterVPN has a built-in malware detection feature that blocks any known malicious domain that may be an attempt to steal your credentials.

Try OysterVPN today at just $9.99 a month!