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Is It Safe To Bank On Public Wi-Fi?

Valued Contributor

Is It Safe To Bank On Public Wi-Fi?

I was wondering how this article ties in with wifi access to myFICO.

 

 

In light of this, if you go to http://ficoforums.myfico.com/ and click on Register, is that a way to create a forums login that is entirely separate from your myFICO score report login? I am concerned that as a default a login is used for both.

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Super Contributor

Re: Is It Safe To Bank On Public Wi-Fi?

I would not do it unless they use wireless encryption.  I would also not use a public computer like in a library or school either. 

10/17/2017 FICO: EQ 829 TU 830 EX 826
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New Contributor

Re: Is It Safe To Bank On Public Wi-Fi?

Having spent a few years in a call center doing tech support in a former life, I would never recommend you use public wifi for anything you're be concerned about being stolen.  It's ridiculous how easy it is to "hack" a wifi (even one that is "secured") if you know what you're doing.  9 times out of 10, you're alright because no one else in that library or coffee shop with you has any malicious intentions - but that one time when you happen to be in the wrong wifi hotspot at the wrong time is all it takes to make a big mess.

Credit decimated by health issues, rebuild starting point: Dec 2016
Starting Score: EX: 485 - EQ: 486 - TU: 475
Current Score (Oct 29, 2017):EX: 574 - EQ: 596 - TU: 586
Goal Score (Jan 01, 2018): 600+


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Message 3 of 5
Regular Contributor

Re: Is It Safe To Bank On Public Wi-Fi?

I'm not sure if I would consider this hacking a wifi network. I think this can better be described as spoofing a web page. This kind of thing could be done on a wired or wireless network. It basically comes down to don't connect to a network (wired or wifi) you don't trust even if it is encrypted.

Starting Scores: 667 EQ 09/2013 | 682 TU08 01/2014 | 689 EX 06/2014(via AMEX CLI)
Current Scores: 667 EQ 09/2013 | 735 TU08 12/2016 | 748 EX 12/2016

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Message 4 of 5
Valued Contributor

Re: Is It Safe To Bank On Public Wi-Fi?

It is if you use a VPN (virtual private network), which creates a private, secure tunnel for your transmissions.

 

You can do this using a VPN service (for a fee), or you can create one on your own, linking to your own PC at home or elsewhere. 

 

If you are on the road a lot and need banking access, this is could work well for you.

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