When choosing a bank, you’re always going to weigh the pros and cons. Which services are better? How good are the rates? The list goes on and on. However, in this day in age, banking security is more important than ever. With cunning fraudsters and sneaky scams, choosing a bank that keeps your data and funds safe is paramount.
Digital Banking vs. Traditional Banking
The question then becomes, for a secure banking experience, which one should you choose? Digital banking or traditional banking? The answer may surprise you.
For some, a traditional brick-and-mortar bank may feel like the safe choice. It’s familiar, and having a physical branch can create a sense of trust. However, digital banks are safer than you’d think.
With the ever-changing nature of technology, digital banks are better equipped for keeping up with the latest and greatest security measures. As a fully digital bank, secure digital banking is our top priority at Vault.Bank.
Let’s learn more about digital banking security features.
With no physical locations, online banks like Vault.Bank face extra pressure to be the best of the best. Their reputation relies on their digital banking security. At Vault.Bank, we pride ourselves on our security and reliability. The foundation of our bank is like that of impenetrable vault doors – reinforced and durable – so you never have to worry about your finances.
We protect your digital bank accounts using a variety of safety measures, including:
The .Bank Domain
You may be wondering “What is a ‘.bank’ domain and why does it matter?” A domain suffix is an easy-to-remember end of a web address. While “.com” is the most common and was originally meant for commercial businesses, the “.bank” domain suffix indicates a domain exclusively designed for financial institutions.
But why does it matter? Protecting against phishing in digital banking is important. Phishing attempts, which involve fraudulent entities attempting to pose as legitimate financial institutions to obtain sensitive information, are a common threat in the digital landscape. That’s why, to get a “.bank” domain, financial institutions must undergo comprehensive verification of their credentials and adhere to rigorous industry regulations and security standards.
Long story short: Not just anyone can get a “.bank” domain. There’s no need to worry about imposters or scammers when a “.bank” domain is present.
Want to learn more about common types of fraud and scams? Check out our Security page for more information.
With the “.bank” domain, you can rest assured that you’re dealing with Vault.Bank every time you visit our website, thus reducing your risk of fraud. By prioritizing security in this manner, we reinforce our reputation as a reliable financial institution dedicated to safeguarding your information.
Interested in learning more about our “.bank” domain? Check out our FAQ page.
Industry-Standard Protocols
The best online banks have to be secure by design. That’s why, at Vault.Bank, we follow stringent industry-standard protocols, use robust encryption techniques, and update our security regularly to ensure the safety and confidentiality of your data.
Multi-Factor Authentication
Whether you’re using Online Banking or our Mobile Banking app, multi-factor authentication, sometimes also referred to as two-factor authentication, helps keep your account safe from identity thieves. With multi-factor authentication, we send a verification code to your email or phone number on file. In order to access your account, you must enter the code sent to you.
How does this protect you? In the event someone is trying to access your online bank account who shouldn’t be (hint: scammers), they will not be able to access your account even if they managed to obtain your password.
Never settle for less! Phishing protection for Online Banking starts with multi-factor authentication.
Real-Time Alerts
Monitor your account activity in real-time with account alerts. At Vault.Bank, our accounts come with instant alerts, so you can detect and halt suspicious activity right in its tracks. With our convenient account notifications, you’ll always have peace of mind when it comes to your transactions, money movement, and spending habits.
Real-time alerts for real-time account protection. That’s the Vault.Bank way!
As you can see, there are a lot of security benefits of digital banking.
Maybe you’ve been asking yourself the question: “Why choose a digital bank over a traditional one?” Consider the digital banking security features listed above. No matter where you stand on the online banking vs. traditional banking debate, ensuring the security of your accounts is of the utmost importance.
At Vault.Bank, enhancing trust in online banking platforms is our goal. For many, digital banking can seem risky or intimidating, but it’s actually the opposite! Digital banks like us are secure by design, and protecting your money and information are at the core of our livelihood.
Get to Know Us
At Vault.Bank, we’re not just any digital bank. We’re built on over 125 years of experience! That’s right! Vault.Bank is managed by the Bank of Brodhead, a community bank that has been providing service to its local community for over 125 years. And just like Bank of Brodhead, Vault.Bank is built on the same standards of trust, security, and service.
Unlike other banks, Vault.Bank draws on the longstanding experience and expertise that comes from being managed by a company with a reputation for excellence in banking.
The benefits of Vault.Bank don’t stop there! Unlock better banking with our great rates that outshine our competitors and our intuitive Online and Mobile Banking interfaces.
Check out our high-yield Savings Account that earns 4.50% APY* – that’s 9x higher than the national average! Plus, unlike other high-yield accounts such as CDs, you’ll enjoy convenient access to your funds whenever and wherever you need them.
Interested? Open a bank account online today! It’s easy! Get started here.
The national rate referenced is from the FDIC’s published Monthly Rate Cap information for savings deposit products.
Frequently Asked Questions
How to open a digital bank account?
Opening a digital bank account at Vault.Bank is easy! Apply for an account here.
What is digital banking?
Digital banking is when you access and manage your bank accounts through web platforms like Online and Mobile Banking.
