Frequently asked questions
What is an OFX file?
OFX stands for Open Financial Exchange. It is an open electronic data format created by Microsoft, Intuit, and CheckFree to transmit financial statements, banking transactions, and credit card balances between financial institutions and personal finance applications.
Can Microsoft Excel open an OFX file directly?
No. If you try to open an OFX file in Microsoft Excel, it will either throw an error or display raw, unformatted SGML markup with code tags like <STMTTRN>. Converting the file to CSV formats all records into neat rows and columns ready for spreadsheet use.
Is it safe to convert my bank statements here?
Yes, completely. Unlike traditional cloud converter websites that require you to upload statements to remote servers, EasyExtract runs entirely inside your client browser. Your file is read locally via JavaScript and never leaves your computer.
What is the difference between OFX and QBO / QFX?
OFX is the vendor-neutral global specification. QBO (QuickBooks Online) and QFX (Quicken) are proprietary extensions of the OFX format created by Intuit. This converter seamlessly parses OFX, QBO, and QFX files.