Convert an OFX file to MT940 or CAMT.053

What is OFX?

OFX stands for Open Financial Exchange, a format for exchanging financial data between banks and accounting or financial software. It is used mainly in the United States and the United Kingdom and is known from packages such as Quicken, QuickBooks, Xero, and GnuCash.

OFX exists in two main variants that differ significantly in technical terms:

• OFX 1.x — based on SGML, an older, less strict markup language. Tags are often not closed neatly, which makes it difficult to process for modern software.
• OFX 2.x — based on XML, a structured and validatable format. This is the modern variant.

Which OFX files does StatementBridge read?

StatementBridge reads OFX 2.x (XML) files. An OFX 1.x file (SGML) is rejected with a clear message, so you know right away that the file first has to be converted. StatementBridge can also generate OFX itself, so you can convert in both directions.

OFX variant	Underlying format	Supported by StatementBridge
OFX 2.x	XML	Yes — read directly
OFX 1.x	SGML	No — convert to OFX 2.x first

When do you want to convert OFX?

A common situation: a foreign account, an international payment service, or a tool such as Quicken or QuickBooks delivers your transactions as an OFX file. Your Dutch accounting package — for example Exact Online, Twinfield, or SnelStart — however expects MT940 or CAMT.053. By converting your OFX, you can still import the transactions without any problems.

Convert OFX with StatementBridge

1. Upload your OFX file — go to StatementBridge and upload your .ofx file.
2. Check the message — if your file is OFX 2.x (XML), it is read directly. If it is OFX 1.x (SGML), you get a clear message (see below).
3. Check the preview — see whether the transactions, amounts, and dates have been recognized correctly.
4. Choose MT940 or CAMT.053 — select the output format that your accounting software expects.
5. Download — download the import-ready file and read it into your accounting package.

What if I have an OFX 1.x file?

Do you get the message that your file is OFX 1.x (SGML)? Then convert it to OFX 2.x (XML) first. Many source applications (such as Quicken or QuickBooks) can export to the newer OFX 2.x version; choose the XML variant in the export settings. After that, StatementBridge reads the file without any problems and converts it to MT940 or CAMT.053.