In this modern era, the technology also has changed the banking process so, one-third of the population frequently uses online banking services, either provided by their local banks or international banking like PayPal, Payoneer, etc.
Digital banking is growing rapidly. Developing countries are also promoting it. The major benefit is, it is 24/7 accessible. The increase in Online Stores also affected it positively.
Digital Banking Has Following Pros:
- Lower Fee
- 24/7 Accessible
- Usually, digital banking service provides 24 hours customer support via live chat, email, and call
- You do not need to go physically.
- Transfer payments, make purchasing from your home with digital banks.
Digital banking indeed has many pros but at the same time, there are also some cons:
- No face to face assistance
- And the big one, Digital Banks Are Hackable
As the major disadvantage is hacking and lack of security so, we suggest to use a VPN for this purpose. Read further to understand how a VPN is helpful?
Why Use a VPN for Online Banking?
It is noticed that hacker main target is money hence banking accounts details are too attractive. In short words, it is recommended to take all the necessary steps.
No doubt, banking services providers make sure that your connection remains encrypted and private but there are still chances of attack.
How Hacker can Access your Data?
Hackers usually attack WiFi. By access WiFi, they can access data on your device and also can monitor your activities on the internet. It’s mean that you must have to secure your browsing first if you want to remain sure and keep your money safe.
The most common tip for secure banking is never login your accounts using public WiFi and neither ether your credit card details. But, the best way for secure banking is to use a good VPN.
How VPN Helps in Secure Banking?
VPNs (virtual private networks) job is to hide your IP address and your location. All your browsing remains to secrete so, you can not be tracked by hackers. VPNs are the easiest way to keep your financial and personal data safe.
Additionally Tips for Financial Security
Except for VPN, we are also suggesting some very important tips so that you remain safe and the ratio of cybercrimes can be reduced.
- Stay aware from Phishing – Phishing is a technique in which hackers create a link with the similar interference of a site. Hacker may create a page same like your banking login page and will send you that link and ask to login. For Protection, always see the link first and make sure you are on the official web of the bank.
- Do not Use Public WiFi – Public WiFi is less secure so, never login into your account using public WiFi.
- Use Antivirus – VPN protects security and Antivirus blocks hackers threats. These both work along for your protection. Use Avast, Bitdefender or Norton Security software for your device protection and ultimately your banking will also become secure.
- Use Security Extensions – Another way is to use Chrome, Firefox, and other banking extensions. Such types of extensions come up with antiviruses software and automatically added into your browsers. This extension warns you if a specific site is trying to harm you.
- Stay Aware of Ransomware – This is another way that hackers commonly use. They attack your system and target specific file. After their attack, you can not open that file because it will require a password. After attacks, hackers usually contact the victim and ask for money to get that file back.
- Keep your Browsers Updated – Make sure your operating system, browser, antivirus, and VPN is up to date. Every update comes up with new features and security improvements so, keep them updated.
- Never share your Banking Data – To stay protected, never share your financial details with anyone even he is offline or online.
- Ask your Bank for Alerts – Although, banks automatically sends Security notification. Anyhow, if your bank is not sending notification then login into your account and make sure you have subscribed for all notifications. In case of any problem, contact your bank authorities.
These were some tips for secure banking. Follow all the guidelines and make your banking secure also aware of others (your friends, colleagues). This step will also help them to secure their accounts and definably cybercrimes will reduce.