That's relatively logical. Banks have to issue payments on your behalf, and the most common signal of scams is attempts to make purchases from random new locations.
no other app does this with far greater number of users so i don't see how this is relevant. so i cannot use my banking app because i am on a vpn? nice
> so i cannot use my banking app because i am on a vpn? nice
Bank's goal is to prevent access by people other than account owner. When it comes to the VPN usage, there are a few risk factors:
- Concealment of connection. Malicious actor will likely use a measure to hide the request origin.
- Accessing from another country or region, human factor (a common use case of VPNs). Instant thousand miles away teleportation is usually a sign of access attempt with stolen information. While you may be smart, a lot of people aren't and will gladly tell all the info to "bank security agent calling to ask for some information to prevent your account from being suspended".
- Accessing from another country or region, legal factor. Banks in some countries may even legally require a notice in advance before using its cards or services abroad.
- Usage of known publicly available service. Multiple users using the same address makes it harder to tell genuine and malicious users apart, so it's better to not leave it to the chance.
the thing is, these apps at least in india are TIED to your SIM and phone.
if you remove your bank linked sim card from your phone, the app wont work. if you change your phone, the app has to be re-registered so its like that.
what i am saying is, the threat model of concealment and another region or another person is already dependent upon the owner owing their phone. if its stolen, the first thing to do is to disable access
