Banks participating in the iDEAL program include:

ABN AMRO ASN Bank Bunq Friesland Bank ING Bank Knab Rabobank RegioBank SNS Bank Triodos Bank Van Lanschot

While iDEAL is a national leader in transactions, that doesn’t make it foolproof. Third-parties have been known to infiltrate  iDEAL records and swipe funds from customers. Additionally, since banks are only the intermediary and not part of the actual process, they offer no insurance if something goes awry in the transfer. This makes the process less than ideal when doing business with unknown entities. This makes the process occasionally a good bit less than ideal.

How iDEAL works

iDEAL is a real-time, low-cost payment system that takes Internet payments. It uses two-factor authentication including the chips embedded in a debit/ATM card and does not share information such as actual credit card numbers. However, there is no chargeback mechanism in place, so if a payment is made in error, it is no quick process to get it back, as it takes filing a case with the bank, where the burden of proof resides solely with the customer. The iDEAL payment process works as follows:

Merchant and consumer agree on iDEAL as the payment method, with the consumer choosing their bank. Consumer is redirected to their bank’s login page. Bank displays transaction record. Customer enters account number and approves transaction with two-factor authentication token. The bank authorizes transaction and deducts amount from consumer’s account. The merchant receives real-time confirmation of the payment by the bank. The consumer is redirected to the merchant page with confirmation of payment.

How to Secure an iDEAL transaction

Encryption occurs with a pair of “keys” that are the only way possible to open a file.  The creator of the transaction has one key and mails the  other to recipient. The recipient cannot open the transaction without the key to decrypt it. Using a virtual private network (VPN) allows you to shop in safety and security using iDEAL as your means of purchasing goods and services. A VPN creates a secure connection between your computer and one located in another environment, often a different country. The network is encrypted from end to end, meaning no third parties can hack into it and see what you are sending or receiving. Even if you are using public Wifi in a setting like a coffee house, library, airport, or public environment, the sites you go to, the information you request, and the payment information you enter will be protected thanks to the VPN’s multiple layers of security.

Best VPNs for using iDEAL in The Netherlands

1Private Internet Access (PIA) VPN

Private Internet Access (PIA) VPN is a US-based VPN with lots of security functions including a kill switch, DNS leak protection, outstanding encryption, and up to five connections available on a single license. It has 3,000 available servers spread across 25 countries Get it Now

2CyberGhost VPN

CyberGhost VPN is a great VPN for Windows and is one of the first companies to own its own servers, meaning there is virtually no risk of anyone outside of you seeing the traffic you’re sending to and from the Internet. CyberGhost has more than 3,000 servers spread across 60 countries and allows users up to seven simultaneous connections. It carriers and extra layer of protection when connected to public WiFi, which means you can shop and use iDEAL with confidence when you’re at the shopping mall, the airport, etc. CyberGhost has additional safety features to keep you safe from modern-day threats. Its safety features include security functions that block tracking, ads, and malicious websites. Try Now Risk Free