Best VPN for online banking in 2020

Last updated: October 23, 2020
Best VPN for online banking in 2019

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Online banking has revolutionized the way we deal with financial transactions. These days, almost every reputable bank offers a customized online portal which gives you an in-depth look at your account. Just like you would expect, online banking is built upon rigorous security measures. However, considering the sensitive nature of banking, it makes sense to add another layer of protection.

This is precisely where VPNs (Virtual Private Networks) come into play. These services have the power to secure your online connection and enable advanced security protocols, no matter where you are.

Here’s what we expected of the best VPNs for online banking:

  • Plenty of Servers: by offering a large number of servers, VPNs can host more users while maintaining a high level of performance.
  • Robust Encryption: we’re talking about the best VPN for online banking, which makes strong encryption of the highest importance.
  • Bulletproof VPN Protocols: finally, every VPN comes with many VPN protocols that ensure the best possible protection.

So, here are the top 5 best VPNs for online banking.

No time to read? Here are our best VPNs:

#
PROVIDER
CATEGORY SCORECATEGORY SCORE
1.
The best VPN for online banking
9.7
2.
Budget-friendly and powerful
9.6
3.
Cheapest VPN for online banking
9.3
4.
Security-first VPN
9.1
5.
One of the fastest VPNs for online banking
9.0

1. NordVPN

9.7
Top VPN provider
Company location
Company location:
Panama
Protocols
Protocols:
NordLynx, OpenVPN, IKEv2
Support
Support:
24/7 live chat
Avg. download speed
Avg. download speed:
1,201 Mbit/s
  • Unbeatable in terms of security and privacy
  • NordLynx protocol for the best speeds without sacrificing security
  • 6 simultaneous connections
  • No router app

You can often see NordVPN featured on the list of VPNs with the highest number of servers. That’s because its ever-expanding server network counts 5400+ units right now. This makes it the perfect choice for frequent travelers.

Aside from the standard set of features, NordVPN also has the ability to route your Web data through two servers. This means double encryption, deleting any trace of your online whereabouts. In terms of encryption, it employs AES-256 and plenty of VPN protocols – and it doesn’t collect any of your personal data.

For a deeper investigation of NordVPN, read our NordVPN review.

2. Surfshark VPN

9.6
Top VPN provider
Company location
Company location:
British Virgin Islands (BVI)
Protocols
Protocols:
WireGuard, OpenVPN, IKEv2
Support
Support:
24/7 live chat
Avg. download speed
Avg. download speed:
689 Mbit/s
  • Packed with solid security features
  • Great performance
  • Almost zero logs
  • Weak self-help support section

A new provider on the VPN scene, Surfshark VPN is already a very solid option when it comes to such sensitive fields as online banking. The network offers 1700+ servers across 60+ countries with easy to use apps for Windows, Mac, iOS, Android, Linux plus Chrome and Firefox extensions. This means that even on public Wi-Fi it’s easy to protect your connection.

The service doesn’t compromise on the technical essentials with end-to-end AES-256 encryption, malware filters, and a kill switch to protect you if your connection drops. Surfshark also has its own private DNS on each server to reduce the chance of others spying on your activities. If you want to protect your Bitcoin wallet or safeguard your bank transactions, you can count on Surfshark.

For a deeper investigation of Surfshark VPN, read our Surfshark VPN review.

3. PrivateVPN

Company location
Company location:
Sweden
Protocols
Protocols:
OpenVPN, IKEv2, L2TP/IPSec, PPTP
Support
Support:
24/7 live chat
Avg. download speed
Avg. download speed:
98 Mbit/s
  • Solid security features
  • Mostly privacy-friendly
  • 7-day free trial
  • Support could be more responsive

PrivateVPN comes from Sweden and is one of the most user-friendly VPNs right now. What’s often praised about this one is its complete transparency and prowess against geo-blocking.

Having secure servers in close to 9.1 countries across the world, there’s plenty on offer here. You are free to use any of those, as many times as you want, all while sticking to the highest level of encryption. With a single click on a button, you can secure public Wi-Fi hotspots and prevent anyone from tracking what you do online. Among other features, PrivateVPN is also great for torrenting and offers great speeds.

For a deeper investigation of PrivateVPN, read our PrivateVPN review.

4. VyprVPN

Company location
Company location:
Switzerland
Protocols
Protocols:
OpenVPN, IKEv2, L2TP/IPSec, Chameleon
Support
Support:
24/7 live chat
Avg. download speed
Avg. download speed:
72 Mbit/s
  • Excellent security
  • Independently-audited no-logs policy
  • Fast speeds
  • No anonymous payments

Coming from Switzerland, VyprVPN is powered by its proprietary protocol named “Chameleon.” It’s believed that this protocol is more secure than what the majority of today’s banks offer to their customers. In other words, forget about anyone taking advantage of your data.

With numerous servers on board, you can use VyprVPN to access them from any device. This VPN comes with a highly polished UI, suitable to beginners and more advanced users alike. And let’s not forget that you can count on blazing speeds – proven by numerous independent tests.

For a deeper investigation of VyprVPN, read our VyprVPN review.

5. ExpressVPN

Company location
Company location:
British Virgin Islands (BVI)
Protocols
Protocols:
OpenVPN, IKEv2, L2TP, PPTP
Support
Support:
24/7 live chat
Avg. download speed
Avg. download speed:
129 Mbit/s
  • Bulletproof security
  • Super fast
  • Great for restricted countries
  • Very expensive

Trust us when we say that ExpressVPN rightfully deserves a place on our list of the best VPNs for banking. This is a highly reputable VPN that scores high across the board.

With over 3000 servers on offer and high-end security features, this service is easily among the best VPN for online banking. It’s powered by 256-bit AES encryption, complemented by OpenVPN and a whole range of other protocols. You can use it across many platforms, so you’re protected in your home as well as on the go. Finally, ExpressVPN comes with a stellar reputation for offering friendly and timely customer support.

For a deeper investigation of ExpressVPN, read our ExpressVPN review.

Security risks related to online banking

As helpful as it is, online banking also comes with a series of security issues. This especially applies to those who don’t take precautionary steps when accessing their bank accounts online. Let’s explain this more clearly by illustrating a few examples.

  • When connecting to the Web from your home, you’re using a secure network (if it’s password-protected, of course). This means that you’re the only one using your Web connection, which is an essential requirement for accessing online banking services. The biggest threat from this standpoint is a possible presence of viruses (that can hijack your data).
  • When accessing the Web from a public wifi or via your smartphone, you’re actually using a highly vulnerable network. Hackers can easily intercept your data, steal your credentials, download financial information, and endanger you in more ways than one.

As you can see, we need a solution that could secure any Web connection, no matter which device you use. You also want absolute freedom of connecting to the Web from any place. As you can imagine – this is precisely what VPNs are designed to do.

Why would you need a VPN for online banking?

VPNs are incredibly user-friendly and straightforward applications, compatible with computers, smartphones, tablets, and more. By using one, you can establish a highly secure Web connection, preventing anyone from reading or stealing your data.

Here’s how VPNs work:

  1. Upon launching a VPN, you’ll get to select a secure VPN server. Clicking on one will connect you to that server;
  2. Once the connection is established, all your data becomes encrypted immediately. In other words, it gets hidden from anyone else on the Web. And also, even if someone manages to steal your data (which is highly unlikely to happen), they won’t be able to open or read a single file (since it’s encrypted, or differently said – scrambled).
  3. Now, you can feel free to access your online banking account. Any information you send and receive remains hidden while the session is in progress.
  4. That’s it! Online banking is only one of the numerous use-cases of VPNs. You can use them every time you connect to the Web to secure your connection and keep dangerous malware, hackers, and other threats at bay.

Is it safe to use a free VPN for online banking?

Before making our recommendations, we have something important to tell you. We strongly recommend avoiding free VPNs! These may not only leave you vulnerable to hacking attempts, but they can take advantage of your personal data.

In general, free VPNs are associated with marketing agencies. They either serve ads or purposely collect your data to allow their partners to gather valuable insight. Also, these can’t be compared to commercial VPNs in terms of encryption and VPN protocols. And most importantly – all of them come with severe limitations in terms of bandwidth and performance.

What else can you do? Additional tips & tricks

Before we let you go, we’d like to share some valuable tips on using online banking in a safe way. Taking advantage of a VPN for banking is the first step, but there’s more you need to know.

  • Make sure to stick to websites beginning with “HTTPS.” Every online banking system should support this protocol, which means that it encrypts your data. Of course, using a VPN in addition is still better.
  • Come up with strong passwords. Don’t make a mistake by using the same password across all your accounts. If you can’t come up with anything unique, there are plenty of capable password managers that’ll do the job for you.
  • Utilize antivirus software on your computer. Even though VPNs will prevent any hacking attempt, it’s imperative to use antivirus to remove any malicious files, applications, or scripts. Even free-of-charge options will do the job.
8 comments
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  1. baldursgate110

    I use Windscribe on my computer, and when I bank on my phone I use ProtonVPN’s free service. I usually don’t access my banking on my computer at all – all my banking is done on my phone. I’ve been thinking about getting NordVPN because I’ve heard their mobile app is really good quality.


  2. Irvin Cruz

    I love the idea of Nord, and especially its availability and the features that it provides. It works just fine for me and I recommend it, though am using the free version for now, but must say am really enjoying it. Great Job


  3. Vaneesa J

    The increasing rate of online banking deserves the use of a secured online platform. Though I don’t think the use of VPN is required for online and internet banking.


  4. Jackson Y

    Oh thanks for this article, I know it’s always better to use a VPN no matter what you do online but I wasn’t sure if there was one that was best for online banking. You guys have a great content here !


  5. hopelessromantic

    Nord VPN has always worked pretty well for me! I wasn’t sure about online banking when it started getting popular, but it’s everywhere now and it makes everything so much easier lol! I can’t believe I used to pay rent with checks. I don’t think anybody accepts checks anymore really, but there are some stores where I can pay just with my phone! Imagine that!

    Always good to be safe though, that’s why I like NordVPN.


  6. George

    After my fiancee’s online banking account got hacked, we both decided to get a VPN. We got VyprVPN and we are very satisfied with the results so far, we feel much safer.


    1. Kirian Alzahi

      Omg that so awful! I also had a bad experience with online banking, so I got NordVPN. It’s a little expensive, but at least I know I’m very safe.


  7. solitude1177

    I never use VPN for online banking on my PC. Is that a safety risk I am taking? Not everyone is aware of using a VPN and the day to day person would not event take the hassle to use VPN when accessing websites over the internet.

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