What is inside an OFX file
OFX (Open Financial Exchange) is an open specification, now maintained by the OFX work group at the Financial Data Exchange. A statement file has two parts.
1. A header. OFX 1.x files start with plain-text lines such as OFXHEADER:100, DATA:OFXSGML and
VERSION:102, then a blank line. OFX 2.x files start with an XML declaration and an <?OFX ...?> line.
2. The statement, inside <OFX> … </OFX>:
| Part | What it holds |
|---|---|
Sign-on (SONRS) | A status, the time the file was made and the language |
Account (BANKACCTFROM or CCACCTFROM) | The bank routing number, account number and account type, or the card number |
Currency (CURDEF) | For example USD |
Transaction list (BANKTRANLIST) | Start and end dates, then one STMTTRN per transaction |
Ledger balance (LEDGERBAL) | The balance and the date it applies to |
Each transaction (STMTTRN) has a type (such as DEBIT, CREDIT, CHECK, FEE or INT), the posting date, the amount
(negative for money out), a unique ID (FITID), a name of up to 32 characters, and an optional memo of up to 255.
OFX 1 and OFX 2
| OFX 1.x | OFX 2.x | |
|---|---|---|
| Syntax | Tagged text (SGML) | XML |
| Closing tags | Needed only on groups; values can be left unclosed | Needed on everything |
| Header | Plain NAME:VALUE lines | XML declaration and <?OFX ...?> |
How to convert an OFX file
- Drop the OFX file into the viewer above.
- If it holds several accounts, choose one.
- Check the transactions.
- Choose CSV, Excel, QBO, QFX or QIF and download.
Reading a transaction
In an OFX 2.x (XML) file, a transaction looks like this; OFX 1.x writes the same tags without the closing tags on each value:
<STMTTRN>
<TRNTYPE>DEBIT</TRNTYPE>
<DTPOSTED>20260103120000</DTPOSTED>
<TRNAMT>-84.23</TRNAMT>
<FITID>20260103d37be02aa201351a</FITID>
<NAME>Corner Grocery #112</NAME>
</STMTTRN>The specification defines 17 transaction types: CREDIT, DEBIT, INT (interest), DIV (dividend), FEE, SRVCHG (service charge), DEP (deposit), ATM, POS (point of sale), XFER (transfer), CHECK, PAYMENT, CASH, DIRECTDEP (direct deposit), DIRECTDEBIT, REPEATPMT (repeating payment) and OTHER.
Dates and amounts in OFX
OFX writes dates as numbers, year first: 20260105 is January 5, 2026, and a time can follow
(20260105120000). Amounts are plain numbers with a minus sign for money out, such as -42.18, and never use
thousands separators. A file that writes 2026-01-05 or 1,005.00 breaks these rules, and strict programs refuse
it; the QBO file checker finds such problems in QBO, QFX and OFX files.
Which programs use OFX files
- QuickBooks Online lists
.ofxamong the file types its Upload from file option takes. - Quicken for Mac imports them with File › Import › Bank or Brokerage File (OFX, QFX).
- QuickBooks Desktop is different: its Web Connect import reads only
.qbofiles, so convert an OFX file to QBO first. - Many other money apps import OFX files too; look for an OFX or “Open Financial Exchange” option in the app’s import menu.
Is an OFX file safe to open?
An OFX file is plain text: it can’t run anything when you open it in a text editor or the viewer above. It does hold your account number and transactions, so keep it as private as a bank statement. The viewer reads it inside your browser and never uploads it.