Microsoft, Intuit and CheckFree announced the OFX standard on 16 January 1997. The first OFX specification, version 1.0, was released on 14 February 1997.[3] The specification allows for bank- and application-specific extensions, although only a subset is necessary to describe a financial transaction.
Versions 1.0 through 1.6 relied on SGML for data exchange, but later versions are XML based. According to the main OFX site, "The specification is freely licensed, allowing any software developer to design an interface that will be supported on the front-end."[citation needed]
Support in various countriesEdit
Many banks in the US let customers use personal financial management software to automatically download their bank statements in OFX format, but most Canadian,[4][5][6] United Kingdom and Australian banks do not allow this, however, many banks do support downloading financial data in OFX, QFX, QIF, or spreadsheet format via their web interface for later import into financial software.
Intuit and QFXEdit
QFX is a proprietary variant of OFX used in Intuit's products. In Intuit products, OFX is used for Direct Connect and QFX for Web Connect. Direct Connect allows personal financial management software to connect directly to a bank OFX server, whereas in Web Connect, the user needs to log in and manually download a .qfx file and import it into Quicken.[7]
^ ab"OFX Work Group - FAQ's". Financial Data Exchange. Retrieved 2023-03-13.
^Reiser, David (11 March 2009). "Re: ofx info for scotiabank in canada?". gnucash-user (Mailing list). Retrieved 16 January 2012. It appears the bank regulators have struck. http://faq.quickensoftware.ca/detail.php?buid=QK&qbid=QK1054 indicates that Online Banking Booster (the Intuit name for DirectConnect in Canada) was discontinued for all Canadian banks at the end of October 2008. The banks have apparently all added additional security questions at login that Quicken can't handle, so Intuit just bailed. In the US, Intuit has pushed the use of an additional token (CLIENTUID) as suitable for satisfying regulator's insistence on multifactor authentication. It remains to be seen how well that rolls out.{{cite mailing list}}: External link in |quote= (help)
^"Online Banking Booster (OLBB) was discontinued on October 31, 2008. How does this affect me?". Quicken Support. Intuit Canada. 27 May 2011. Retrieved 16 January 2012.
^Selhi, Bylo (18 December 2007). "Re: Alternatives to Quicken". Financial Wisdom Forum » Under the Mattress: Protecting Your Money. Post 227689. Retrieved 9 January 2017.
^"Connectivity Types - OFX". Intuit. Retrieved 12 March 2023.
External linksEdit
More information on the OFX specification
OFX Press Release (copy)
List of OFX connection details for banks that support OFX
OFX forums, list of verified OFX connection details
OFX file viewer
August 28, 2023
open, financial, exchange, data, stream, format, exchanging, financial, information, that, evolved, from, microsoft, open, financial, connectivity, intuit, open, exchange, file, formats, filename, extension, ofxinternet, media, typeapplication, ofxdeveloped, b. Open Financial Exchange OFX is a data stream format for exchanging financial information that evolved from Microsoft s Open Financial Connectivity OFC and Intuit s Open Exchange file formats 3 Open Financial ExchangeFilename extension ofxInternet media typeapplication x ofxDeveloped byMicrosoft Intuit and CheckFreeInitial releaseFebruary 14 1997 1 Latest release2 3 2 Container forFinancial informationExtended fromSGML XML OFCExtended toQFX Contents 1 History 2 Support in various countries 3 Intuit and QFX 4 See also 5 References 6 External linksHistory EditMicrosoft Intuit and CheckFree announced the OFX standard on 16 January 1997 The first OFX specification version 1 0 was released on 14 February 1997 3 The specification allows for bank and application specific extensions although only a subset is necessary to describe a financial transaction Versions 1 0 through 1 6 relied on SGML for data exchange but later versions are XML based According to the main OFX site The specification is freely licensed allowing any software developer to design an interface that will be supported on the front end citation needed Support in various countries EditMany banks in the US let customers use personal financial management software to automatically download their bank statements in OFX format but most Canadian 4 5 6 United Kingdom and Australian banks do not allow this however many banks do support downloading financial data in OFX QFX QIF or spreadsheet format via their web interface for later import into financial software Intuit and QFX EditQFX is a proprietary variant of OFX used in Intuit s products In Intuit products OFX is used for Direct Connect and QFX for Web Connect Direct Connect allows personal financial management software to connect directly to a bank OFX server whereas in Web Connect the user needs to log in and manually download a qfx file and import it into Quicken 7 See also EditISO 20022 FinTS formerly HBCI References Edit Open Financial Exchange FAQ Retrieved October 22 2020 dead link OFX net dead link a b OFX Work Group FAQ s Financial Data Exchange Retrieved 2023 03 13 Reiser David 11 March 2009 Re ofx info for scotiabank in canada gnucash user Mailing list Retrieved 16 January 2012 It appears the bank regulators have struck http faq quickensoftware ca detail php buid QK amp qbid QK1054 indicates that Online Banking Booster the Intuit name for DirectConnect in Canada was discontinued for all Canadian banks at the end of October 2008 The banks have apparently all added additional security questions at login that Quicken can t handle so Intuit just bailed In the US Intuit has pushed the use of an additional token CLIENTUID as suitable for satisfying regulator s insistence on multifactor authentication It remains to be seen how well that rolls out a href Template Cite mailing list html title Template Cite mailing list cite mailing list a External link in code class cs1 code quote code help Online Banking Booster OLBB was discontinued on October 31 2008 How does this affect me Quicken Support Intuit Canada 27 May 2011 Retrieved 16 January 2012 Selhi Bylo 18 December 2007 Re Alternatives to Quicken Financial Wisdom Forum Under the Mattress Protecting Your Money Post 227689 Retrieved 9 January 2017 Connectivity Types OFX Intuit Retrieved 12 March 2023 External links EditMore information on the OFX specification OFX Press Release copy List of OFX connection details for banks that support OFX OFX forums list of verified OFX connection details OFX file viewer Retrieved from https en wikipedia org w index php title Open Financial Exchange amp oldid 1169250964, wikipedia, wiki, book, books, library,
