Are eSIMs safe for banking? All you need to know

What is an eSIM?

An eSIM is a digital SIM that allows you to connect to a mobile network and use cellular data without a physical SIM card. To activate an eSIM, you just need to buy a plan and follow your provider’s installation instructions.

eSIMs come with significant advantages over physical SIMs. An eSIM allows users to:

• Get the best coverage wherever they are.

• Easily switch between carriers.

• Choose flexible data plans.

• Use eSIMs on multiple devices, including smartwatches and tablets.

• Avoid lost, stolen, or damaged SIM cards.

• Reduce the risk of hacking and SIM swapping.

When it comes to an eSIM vs. a physical SIM, eSIMs come out on top, and more tech companies are moving away from traditional SIM cards. In fact, the most recent iPhone and Galaxy Samsung releases in the US only use eSIM technology.

Are eSIMs safe for online banking?

eSIMs are safe for online banking. In fact, eSIM technology is much more secure than other mobile internet options, like physical SIMs or free Wi-Fi.

eSIMs come with enhanced security features that keep your sensitive data safe when you’re using banking apps:

• Can't be lost or stolen. A criminal can steal removable SIM cards to commit identity theft. However, since eSIMs are digital SIM cards, they aren’t vulnerable to physical theft or loss.

• Harder to hack. While an eSIM can be hacked, eSIM technology provides an extra layer of security, making it more difficult for cybercriminals to access your sensitive data. Unlike traditional SIM cards, eSIMs use cybersecurity techniques like data encryption and mutual authentication protocols.

• GSMA compliance. eSIM implementations adhere to security standards set by the Global System for Mobile Communications Association (GSMA).

Best practices for online banking security with an eSIM

Using an eSIM for online banking can be both convenient and secure, especially when paired with smart digital habits. While eSIMs offer strong built-in security features, staying safe ultimately depends on how you use your device and protect your personal information. Whether you're banking on a mobile network, a public hotspot, or at home, these best practices can help keep your accounts secure:

• Choose a reliable eSIM provider. Look for an established eSIM provider with a strong reputation for security, reliability, and customer service, like Saily.

• Set strong, unique passwords. Pick a password that uses a combination of upper- and lowercase letters, numbers, and special characters.

• Use a virtual private network (VPN). A VPN provides an extra layer of cybersecurity by encrypting your internet connections to prevent hacking and SIM swapping.

• Enable two-factor authentication (2FA) for your banking apps. 2FA requires multiple factors (usually your password and a one-time login code) to access accounts. With 2FA, if a cybercriminal gets your password, they will still be locked out of your account.

• Don’t use banking apps on public Wi-Fi. Public Wi-Fi is like a playground for hackers. If you need to log in to your bank or another account with sensitive information when you’re out and about, disconnect from public Wi-Fi and use mobile data instead. 

• Update your phone’s software. Companies are always refining their software to keep their customers safe. Make sure that you keep your phone’s operating system up-to-date and regularly check for updates to your online banking app.

• Consider biometric authentication. Biometric authentication, like facial recognition and fingerprints, can make sure that only you can log into your device.

• Monitor your bank accounts for unusual activity. Keep an eye on your bank and credit card accounts. If you notice any unauthorized transactions, contact your bank immediately.

Saily’s security features

Saily was created by the team behind NordVPN, a trusted name in secure web browsing, so you know you’re in good hands. Saily’s travel SIM service has been built with eSIM security in mind, making it one of the safest ways to access online banking when you’re abroad.

Let’s take a look at an overview of Saily’s eSIM app security features:

• Industry standard security protocols. Saily has all of the security advantages that come with eSIM technology, including data encryption, mutual authentication protocols, isolated secure elements, and GSMA compliance.

• Web protection. Saily’s eSIM technology adds an extra layer of security with advanced hacker protection. Saily incorporates NordVPN’s anti-phishing software to automatically block malicious sites and online trackers, allowing users to browse more quickly and more safely and protecting you from SIM swap attacks.

• Ad blocker. Saily’s built-in ad blocker keeps intrusive and potentially dangerous ads from interrupting your browsing experience. Not to mention, when you toggle on Saily’s ad blocker, you can use less data on ads and more data on the things that are important to you, like connecting with friends and finding the best local restaurants!

• Virtual location. With Saily, you don’t have to worry about third-party websites tracking your location. Instead, you can use secure servers to browse privately from over 115 virtual locations. And if you need to access any of your home country’s content while you’re abroad, you can switch your virtual location with a simple click.

Stay safe all over the world with the Saily eSIM app

With the Saily eSIM app, you can access high-speed data with the highest security protocols, no matter where you are. In addition to its advanced security features, customers can take advantage of all the benefits Saily has to offer:

• Flexible data plans with simple online top-off

• The best coverage from major international mobile providers

• Affordable alternatives to expensive international roaming

• Easy installation

• User-friendly interfaces

• Automatic activation 

• One eSIM for all your trips, with over 200 locations

• National, regional, and global plans so that you always have the data you need

With high scores on security, performance, and flexibility, Saily is your top choice for a travel eSIM. Skip the traditional physical SIM card and get Saily for safe online banking!