Online banking has become the default for millions of people around the world. Whether it is personal accounts or business accounts, people are checking balances and paying bills, managing investments and applying for loans, and most financial activity now happens online.
But as banking has become more convenient, it has also become a top target for cybercriminals.
In fact, financial services account for over 20% of phishing and malware attacks globally—and the risks are only growing. With new scams, man-in-the-middle attacks, and public WiFi exploits emerging constantly, it’s clear that traditional security measures aren’t enough.
That’s why a VPN (Virtual Private Network) remains one of the smartest and simplest tools you can use to protect your financial information online. Whether you’re banking from a laptop at home or checking your balance on your phone while traveling, a VPN provides a critical layer of encryption that keeps you and your money safe. And we have solutions for both individuals and SMBs.
The Modern Threat Landscape for Online Banking
Today’s cyber criminals don’t just go after big banks—they go after you. And they’re surprisingly successful.
Many of today’s banking-related attacks exploit the following:
- Unsecured public WiFi (like coffee shops, airports, hotels)
- Fake banking apps that mimic legitimate mobile interfaces
- Man-in-the-middle (MitM) attacks, where your internet traffic is intercepted and monitored
- Credential theft from phishing emails and compromised browsers
- Rogue access points, which appear to be legitimate WiFi networks but are controlled by hackers
And these threats don’t just hit users on outdated machines or sketchy websites. Sophisticated attackers now create convincing replicas of banking portals, inject malicious scripts into real ones, and trick even savvy users into exposing personal details.
Financial Institutions Are Recognizing the Need for Encryption
According to a recent article in Banking Frontiers, Neha Anand, VP & Head – Cyber at Prudent Insurance Brokers, explains that SMB employees, many of whom work outside the office, are at risk as well. She explained that employee’s home WiFi networks frequently lack strong security, leaving them vulnerable to online attacks. Hackers can use phishing attacks, which can trick employees into clicking on harmful links, to take advantage of remote work disadvantages. These connections have the potential to install malware or launch ransomware attacks, encrypting confidential company information and interfering with business operations.
As a result, financial institutions are making VPNs available to SMB customers to improve security.
Why a VPN Is Essential for Safe Banking
When you use VPN encryption, your internet connection is routed through a secure, encrypted tunnel. That means:
- Your data is shielded from hackers. Even if you’re using public WiFi, a VPN ensures that your session is encrypted from end to end, making it virtually impossible for bad actors to snoop on your activity.
- Your IP address is hidden. This helps protect your location and personal identity, adding another layer of anonymity to your banking session.
- You’re protected from network-based threats, such as MitM attacks or DNS hijacking.
A good VPN acts like a private, armored lane for your internet traffic. For online banking, that kind of protection isn’t just helpful—it’s crucial.
The Mobile Factor: Don’t Forget Your Phone
Nearly 70% of Americans now use mobile apps for banking. While apps are generally more secure than browsers, they’re still vulnerable to malware infections, fake app clones on third-party app stores, and poorly secured WiFi connections.
A VPN on your phone ensures that every banking action—whether it’s transferring money, setting up alerts, or applying for a mortgage—is done over an encrypted, trusted connection.
Pro tip: Avoid banking apps that allow logins on jailbroken or rooted devices. These environments make it easier for hackers to bypass app security.
But Doesn’t My Bank Already Use Encryption?
Yes, most modern banks use HTTPS (TLS encryption) for web and mobile access.
However, HTTPS alone can’t protect you if a hacker is intercepting your connection on public WiFi, your DNS requests are being rerouted to a spoofed site, or malware is logging your keystrokes or screenshots.
A VPN adds a second layer of encryption over your connection, ensuring your traffic stays private before it even hits the banking website. Think of it as adding a deadbolt to a locked door—it’s another barrier that attackers would rather avoid.
Public WiFi? Use with Caution
Using free WiFi at airports, hotels, or cafes without a VPN is like shouting your banking password across a crowded room. Even if the WiFi is password-protected, it’s often shared among dozens or hundreds of people—giving hackers plenty of opportunities to intercept unencrypted traffic.
Always turn on your VPN before logging into your bank on public WiFi. It could be the difference between a safe transaction and a stolen identity.
Final Thoughts
In 2025, online banking is a modern convenience we can’t live without, but it comes with modern risks. A VPN remains one of the most affordable, effective ways to protect your financial data from theft, fraud, and prying eyes.
Whether you’re banking from a remote cabin, a coworking space, or your own kitchen table, make sure your connection is secure. Make sure you’re using a VPN.