WiFi has become an integral part of everything we do in the modern day, but is home WiFi safe for banking? Using WiFi for tasks like banking makes it far easy to manage your money and data. However, if your WiFi security is not up to scratch, you can put your information and finds at risk.
Many people believe that WiFi security risks are only associated with public internet connections. But the same problems can arise with a home internet network if you have not trusted a professional team like The Wifi Specialist for your WiFi installation services. Our WiFi specialist engineers can ensure your home banking is completely secure.
Risks of home WiFi banking
There are several risks associated with using your home WiFi for online banking. If your connection is not secure, non-authorised users can attempt to join your network. Then, if your connection to your banking app is not encrypted, these unauthorised users may be able to see your information and gain access to your account.
Even if you are confident that there are no unauthorised users on your network, other applications on your laptop or phone could still be putting your banking data at risk. If you have other internet connected applications on your device that are running in the background, your information could still be insecure.
If other applications are connecting to the internet to run or update, there is no guarantee that their connection is secure and encrypted. Hackers use these unprotected internet-enabled applications to access your data. These leaks include your email address, usernames, frequent locations and recent purchases.
With this information, they can begin to form a profile of your regular internet use. This could eventually lead to stolen banking data and, in extreme cases, online identity theft. With so many risks associated with it, you need an expert network health check from The Wifi Specialist. We can then identify any issues and use specialist WiFi design to secure your connection.
Tips for securing your online banking
If you want to safely bank online, we can offer several tips and tricks that can help to secure your connection to your banking application. The first thing you can do is to keep your system and software fully up-to-date. Outdated applications can leave holes in your security that hackers can enter through.
By simply keeping all of your technology up-to-date, you can put more in the way of potential hackers and thieves. Another simple method of securing your mobile banking connection is to use your cellular data instead of a WiFi connection. It is far harder for criminals to access your mobile network, and this can keep your banking data safer.
If you have your device set up to automatically connect to nearby networks, you could be exposing yourself to several risks. You should never connect to a WiFi network unless you know you can trust the source. Thieves and criminals can easily set up fake networks and use these connections to access any data shared between your device and their false network.
Monitoring your security
There are also a vast number of security software packages available for you to purchase. This software includes firewalls and antivirus programmes. However, you need to ensure that all security software is up to date. If your software is out of date, you open yourself up to the risks associated with outdated mobile apps that we discussed earlier.
The simplest way to keep your bank account protected from online thieves is to regularly monitor your account. If you keep your eye on your money, you can spot any irregularities in your accounts and take action to rectify them quickly. You will then be able to report any fraud and ensure that your account is locked down.
Set up extra security
Also, if your banking application does not require it, you should make sure that you have set up extra security measures that will reduce the risk of unauthorised access. Additional security like two-factor authentication can make it significantly harder for thieves to access your account. It will also notify you if any unexpected log-in attempts have been made.
If you need any help setting up two-factor authentication or any other form of internet security, contact the expert team at The Wifi Specialist today. Our WiFi specialist engineers have all the knowledge and expertise required to make your internet banking safer than ever. We will ensure that your home WiFi is safe for banking.
Want more help securing your online banking? Contact the expert team at The Wifi Specialist today!
Frequently Asked Questions
Is home WiFi safe for internet banking?
Yes, if your home WiFi connection has been set up by a professional team and features the most up-to-date security, then you will be protected when banking online. However, outdated hardware, software and applications can leave you vulnerable to hackers. To ensure your internet connection is secure enough for online banking, contact The Wifi Specialist and enquire about a state-of-the-are network health check.
How can I make my online banking more secure?
If you enjoy the convenience of online banking, you need to be sure that your money and information are safe. The easiest way to protect your information is to monitor your account regularly and to employ extra safety measures like two-factor authentication if it is not already provided by your bank. Contact The Wifi Specialist if you are worried about the safety of your online banking.