OFX File Documentation

Overview

Feature Value
Format Name Open Financial Exchange (OFX)
File Extension .ofx
MIME Type application/x-ofx
Data Format SGML (Standard Generalized Markup Language)
Introduced 1997
Developed By CheckFree, Intuit and Microsoft
Used For Financial data exchange between financial institutions, businesses, and consumers
Character Encoding ASCII
Security Supports SSL encryption
Compression Not inherently supported; requires external compression tools
Primary Use Banking transactions, credit card statements, and other financial data
Accessibility Text-based, can be viewed with a simple text editor
Interoperability Widely supported by financial software applications
Specification Availability Publicly available
Root Element OFX
Header Section Contains metadata such as OFX version, data creation date, and security information
Transactions Section Details about individual financial transactions
Support for International Transactions Includes support for multiple currencies and international accounts
Account Information Can include details on various types of accounts (e.g., checking, savings, credit card, investment)
Upgradability XML-based OFX 2.x versions provide paths for future enhancements