Teflon tape is strong enough I guess.
However, I'm follower of Joe Real's technic, 3 layers with rubber band as middle one.
I have "2 layer" experiment (1. rubber, 2. teflon) but result looks ugly if compared with 3 layer result.
Morton citrange chip budded last spring on Poncirus, photo taken today:
For early spring grafts tapes was removed in summer.
For late spring and summer grafts tape was removed (all or partialy) in autumn.
Summing (still limited) experiance:
Don't hurry, keep layers (1st one at least) as long as possible.
Also for grafts on inground rootstocks,
replacing old layers with new one put in autumn and kept till new vigorous growth in spring is beneficial, specialy for local winters - relatively cold and moist, zone 7-8.