Best VPN for Online Banking

Last modified on May 26, 2024

Online Banking: When does a VPN make Sense?

A VPN offers an extra layer of protection, but can also cause problems with online banking. Here you can find out what you need to keep in mind.

When you do your N26 banking online, you want the best possible security. Many VPN providers therefore strongly recommend the use of a Virtual Private Network. But the same providers also like to promise complete anonymity on the Internet, which de facto does not exist.

Does Internet Banking with VPN really make Sense?

That depends on where you operate your online banking business from. If you use your secure home network for this, you can usually do without a VPN. As long as strangers do not have access to your network, the security measures used by your bank such as website encryption (SSL/TLS) and two-factor authentication are usually sufficient.

Online Banking in open WLAN with VPN only

The situation is different if you use public WLAN hotspots or are currently abroad. In these cases a VPN is absolutely useful, if not absolutely necessary.

Without VPN, online banking or online shopping via an open WLAN are absolute no-go’s! Because in unencrypted WLANs, hackers can easily intercept your data traffic in order to steal passwords and account data.

This is what a VPN prevents. It establishes an encrypted connection (a so-called tunnel) between a terminal device and a VPN server. Data transmitted via this tunnel connection is isolated from the rest of the Internet and cannot be read or manipulated by any third party. But a VPN does not protect you from phishing attacks. More about this below.

Caution when choosing the VPN Location

With a VPN you can also disguise your IP address and thus your location. Your own IP address, with which your device identifies itself on the Internet, is replaced by the address of the VPN server. Websites you visit with VPN enabled will only see the IP address of the VPN server.

This may lead to problems with banking pages or apps. For example, if you have chosen India as your VPN location and now want to access your online banking, your bank’s protection systems could suspect a fraud attempt and, in the worst case, block access to your accounts.

Therefore, you should always set Germany as your VPN location for online banking. So you can also do your banking transactions online from abroad without any problems, because your bank thinks that you are still in Germany.

So a VPN makes sense for online banking and is even indispensable for Internet access via public WLAN. The premium browser Lumen for iOS has already integrated a VPN function that is active for all apps on your iPhone.

However, even the best VPN does not protect against online threats such as banking Trojans or phishing attacks. That’s why you should also take the following tips to heart:

Use the latest Software

Keep your operating system and apps up to date because updates regularly close security gaps. This makes it harder for hackers to steal your data or infiltrate malware.

Checking Banking Pages for Authenticity

Always make sure that you are on your bank’s website before entering your login details. Fraudsters keep trying to lure users to fake login sites with phishing attacks. Phishing sites can often be identified by the fact that the domain displayed in the address bar differs slightly from the original web address. It may contain spelling mistakes or unusual additions such as prefixes or dotted additions.

It is best to enter the web address of your bank manually or call up the page via a bookmark you have created. Never follow a link in an email or message that allegedly leads to your bank’s website. This could be a phishing attempt.

Pay Attention to encrypted Connection

Transmit confidential information such as credentials only over an encrypted connection.

You can recognize this by the https:// in front of the web address and a lock symbol in the address bar. The Lumen web browser establishes encrypted connections to websites by default, if the site operator offers this option. This is almost always the case with banks.

Use Passwords that are as secure as possible

Protect your online accounts with hard-to-crack passwords. Use a separate password for each account. Tips for creating passwords that are as secure as possible can be found here.

Log out after a Banking Session and delete Browser Data

Always log off from your banking portal or banking app after you have completed your banking transactions.

To prevent data from remaining on your device in connection with your banking session, you should open the banking portal in the private mode of your browser from the outset and empty the browser cache after logging off. With the Lumen Browser you can delete visited pages, cache, cookies, offline website data and downloaded files separately under Settings > Data Management.

If, despite all precautions and security precautions, you have been a victim of fraud, you should report it to your bank as soon as possible. You should also take precautions to ensure that the perpetrators cannot cause any further damage with the data that has been tapped. Change your access data, block your TAN list and bank accounts if necessary and check your online accounts (banking, shopping) regularly for unusual transactions.

Here are 3 of the best VPN Providers for Banking on the Go:

Provider Monthly Costs Details Client-Software Features
  • 2-year plan: $3.71 per month, $89.00 total (68% discount)
  • 1-year plan: $4.92 per month, $59.00 total (58% discount)
  • 1-month plan: $11.95 per month, $11.95 total (0% discount)
  • 30 Days Money Back Guarantee
  • Company-Location: Panama
  • Server-Countries: 61+
  • Servers: 3500+
  • IPs: 5000+
  • Windows
  • Mac
  • Linux
  • Android
  • iOS
  • Zero logs policy
  • Filesharing allowed
  • Use on up to 6 devices simultaneously
  • 30 Days Money Back Guarantee
  • Kill Switch and other extras for free
  • Accepts Bitcoin
Visit Providers Website
  • 36 Months Plan: $2.75 (79% Discount!)
  • 24 Months Plan: $3.69
  • 12 Months Plan: $5.99
  • 1 Month Plan: $12.99
  • 45 Days Money Back Guarantee
  • Company Location: Romania
  • Countries: 60+
  • Windows
  • macOS
  • iOS
  • Android
  • Android TV
  • Amazon Fire TV/Stick
  • Own software for connections
  • Particularly fast connections
  • Great Customer Support
  • No Logs Are Kept
  • One-click VPN Connection
  • Smart Rules (fully customizable)
  • Best Location (fastest server)
  • Easy to Use
  • 45 Days Money Back Guarantee
  • Save 79% - Take 36 months for $2.75\Month only
Visit Providers Website
  • 2 Years - $2.50/mo (81% Off)
  • 1 Year - $3.75/mo (71% Off)
  • Monthly - $12.95/mo
  • Company Locations: Asia, Europe, USA, Oceania, Switzerland
  • Countries: 64
  • Server: 712
  • IP Adresses: 200.000+
  • Windows
  • Mac
  • iOS
  • Android
  • No Logfiles!
  • Own protocol Chameleon
  • Only monthly or yearly plans
  • 30 Days Money Back Guarantee
Visit Providers Website