Why convert OFX to CSV?
OFX, QFX and QBO files are made for accounting software, not for people. Opened in a text editor, they're a wall of tags. Converting to CSV or Excel lets you read, sort, filter and total the transactions. That helps when you want to review a download before importing it, build a budget, prepare tax figures, or send the data to someone who doesn't use the same software.
How to convert OFX to CSV
- Choose your .ofx, .qfx or .qbo file above. All three use the same structure.
- If the file holds more than one account, pick the one you want.
- Choose the output: CSV with one amount column, CSV with separate debit and credit columns, or Excel.
- Click Download and open the file in Excel, Google Sheets or Numbers.
What's in the CSV?
| Column | Comes from | Notes |
|---|---|---|
| Date | DTPOSTED | Written as YYYY-MM-DD, which spreadsheets can't read the wrong way round |
| Description | NAME and MEMO | Joined when they differ; the longer one is kept when one contains the other |
| Amount | TRNAMT | Signed: money out negative, money in positive |
| Balance | none | OFX transactions don't carry a balance after each one, only the account's ending balance, so this column is empty |
| Reference | CHECKNUM or REFNUM | Check number or bank reference, when present |
The file is UTF-8 with a byte-order mark, so Excel shows accented names correctly, and text that starts with = or + is protected so Excel doesn't run it as a formula.
OFX quirks the tool handles
- Two versions of OFX. Older files (OFX 1.x) use tags that are never closed. Newer files (OFX 2.x) are XML. Both are read.
- Several accounts in one file. Some banks put checking, savings and cards in one download. You choose which account to convert.
- Credit cards. In OFX, card purchases are negative and payments positive, from your side of the account. The CSV keeps that. The ending balance becomes the amount owed.
- Unsigned amounts. A few exporters write every amount as positive and rely on the transaction type. When that happens, debits, checks, fees and payments are made negative.
- European number formats. Amounts like
-12,50are read correctly. - Dates with times and time zones, such as
20260905120000.000[-5:EST]. The date part is used as written.
Is my file uploaded?
No. The OFX file is read on your computer, in this page, and the CSV is created there. Nothing is sent to StatementCheap or anyone else.