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How Safe Is It To Use A VPN For Online Banking 2020


It’s completely safe to use a VPN as you conduct online banking transactions. Whether you are traveling, using a public WI-FI at an airport, café, or other public places, a VPN is the only thing standing between you and the prying eyes of the cybercriminals. While it may not be a good idea to conduct banking transactions while on a public WI-FI, using a VPN helps keep the information safe.

When banking online, you could provide your personal information, bank account details, secure passwords, and family-related information. If hackers can view this information, you could become the victim of credit card fraud or, worse – identity theft.

What shouldn’t I do when using a VPN to conduct online banking?

If you are using a VPN while conducting online banking transactions for additional safety and security; the constant server switching could be noticed by your bank and become suspicious; therefore, while banking online, stick to a single server so that your bank doesn’t become cynical and lock you out of your account. The smart move is to connect to a server from the same country in which you are currently located.

How can a VPN help with safeguarding online banking

Your online banking automatically becomes safer when incoming and outgoing information is encrypted. Rather than having you connect through the public WI-FI, the VPN enables you to access the internet through an “encrypted tunnel,” created by combining you through a different server than the one assigned by the ISP. Resultantly, you can use the internet with the ultimate protection of your data, mainly the banking related information.

To what extent can a VPN help me when I am banking online

A VPN can significantly protect your privacy, but it cannot guarantee that you will avoid hacking. Therefore, apart from using a VPN as a safe banking practice, you should take other precautionary measures. For instance, always use a secure password and practice other internet safety measures. If your banking password is not healthy, it can be easily cracked or guessed by the cyber-criminals.

A VPN Cannot Help You If:

  • You are using a Free VPN because if it’s free it’s most probably recording your behavior and data, storing it and selling it to third parties. Most Free VPNs have been caught engaging in such shady practices. They also don’t invest in the proper infrastructure required to prevent IP leaks since they are not generating any revenue from you and hence your data is never fully encrypted.


  • You are not cautious on the web. For instance, visiting untrusted or suspicious websites that run the risk of compromising your data and even your device, downloading files without an up-to-date antivirus, relying on an out-of-date operating system, and using weak passwords (especially if you use the same password for all your accounts). All of these behaviors make you susceptible to data theft and can lead to a compromise of your banking information.


  • You are using a VPN but constantly change the server location when accessing the bank accounts. When banks notice that your account is being logged in from a country other than the one you reside in or money is being transferred from your account to one in a foreign country, they flag it as suspicious. When your IP address doesn’t belong to the same location as your billing address, the bank may suspect this as an indication of fraud or hacking. As a result, your card may get blocked or you might be prevented from making online purchases.

Why Use Ivacy VPN?

  • Ivacy VPN uses military grade encryption which secures classified information at the highest levels


  • Ivacy maintains a strict no-logs policy so your online activity – including financial transfers or work emails – are never recorded. We don’t store any information about you, which is why we will never be able to share it with any third parties.


  • Connect up to 5 devices using the same Ivacy VPN account. Whether it’s your laptop, phone or tablet, your online transactions are safe on all of them when you use Ivacy.


  • You can choose from over 1000 servers in 100 countries.

Final Thoughts

Online banking in today’s time is no joke and comes with many risks. Especially in the COVID 19 environment wherein, most financial transactions are being done online. It’s imperative that you never keep your guard down and use a VPN service among other cybersecurity tools, to prevent a scenario involving a leak of sensitive banking related information.

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