The file extension OFX denotes the Open Financial Exchange Format (open exchange format for financial data). This format is SGML-based and was created in 1997 by Intuit, Microsoft and CheckFree. The files may include transactions such as bank transfers, account balances and other financial related data.
This open standard allows the easy exchange of data between programs of different manufacturers and systems, such as banks and home users.
The OFX standard is increasingly replacing the Open Financial Connectivity format of Microsoft Money.
Most often resolving problems with opening OFX files is very simple. Just install an appropriate program that supports such files. All of the listed programs support OFX files, but may vary in offered function and purpose. Some programs may be capable only of viewing contents of OFX files or offer file conversion options, but may not be capable of editing such files.
It is possible that although a compatible program has been installed on user’s system, it is not used by the system to open it. This may happen because no default application was associated with this type of files. To associate OFX files with given application, select "Open with" from drop-down menu (accessed by right-clicking on the file). Then select from the list the program or application you want to be used to open this type of file. If the Moneydance applications is not on the list, select "Browse" option in order to manually locate the directory where Moneydance has been installed.
Sometimes problems with opening OFX files may not lie with the application itself, but can arise due to other causes, such as: