Convert OFX to XML

Understanding the ofx and xml file formats

OFX (Open Financial Exchange) is a standardized file format used for exchanging financial data, such as bank statements and transaction records, between financial institutions and personal finance software. OFX files are structured in SGML, which is similar to XML but with some differences in syntax and flexibility.

XML (eXtensible Markup Language) is a widely used markup language that stores data in a structured, human-readable, and machine-readable format. XML is commonly used for data interchange between systems and is supported by a wide range of applications and programming languages.

Why convert ofx to xml?

Converting OFX files to XML format can make financial data easier to process, analyze, and integrate with other systems. XML's strict structure and broad compatibility make it ideal for data manipulation, reporting, and migration tasks.

How to convert ofx to xml

Since OFX is structurally similar to XML, conversion is often straightforward. However, OFX files may lack some XML features, such as explicit closing tags, so a conversion tool is recommended to ensure proper formatting.

Recommended software for ofx to xml conversion

• OFX2XML: A dedicated tool for converting OFX files to well-formed XML. It automatically corrects formatting issues and outputs standard XML files.
• MoneyThumb OFX Converter: This software supports batch conversion and can export OFX files to XML and other formats.
• Online converters: Websites like ofx2xml.com allow you to upload an OFX file and download the converted XML file instantly.

Step-by-step conversion using OFX2XML

1. Download and install OFX2XML from the official website.
2. Open the application and select File → Open to load your OFX file.
3. Choose File → Export → XML to save the converted file in XML format.
4. Review the output XML file to ensure the data is correctly formatted.

Tips for successful conversion

• Always back up your original OFX files before conversion.
• Validate the resulting XML file using an XML validator to ensure it is well-formed.
• If you encounter errors, try opening the OFX file in a text editor to check for formatting issues.