Phasing out of OFX Format
Hello, I have a general question about what happens when the banks phase out the ofx format for downloading files. I am worried because one of our banks has taken it away, but now we are having trouble with a second bank. Are you all thinking about allowing downloads through a different format, such as .csv or .txt? I absolutely LOVE MoneyDance and DO NOT want to switch to Quicken. But it seems like the banks are starting to phase out .ofx. So I'm just wondering if you are preparing for that eventuality. I'd rather know in advance if I'm going to have to start searching for another way to do my recordkeeping. Thank you - you have been wonderful to work with through the last decade or more!
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1 Posted by Karen Poff on 10 Dec, 2025 08:43 PM
It looks like there is the Option of using the Quicken file format now, which is good. But I'm still interested in any plans you have to cope with future changes in the banking system. Thank you!
2 Posted by dwg on 10 Dec, 2025 09:31 PM
I'm a fellow customer.
Quicken file formats are QFX and QIF and Moneydance supports both of these, they have another format call QXF but that is really for transferring data between different versions of Quicken, not for data downloads.
Moneydance supports the import of CSV files to non-investment accounts and has that built in. There is also a user written CSV importer which is better suited for the regular import of data from Financial institutions as it has the ability to save and reuse CSV file layout information.
Support Staff 3 Posted by Ethan on 12 Dec, 2025 09:53 PM
As the previous comment mentioned, Moneydance already supports the major file formats in existence (OFX, QFX, QIF in particular). CSV file can be imported, although those take a bit more work, since there isn't a standard format for those with bank information, and sometimes banks don't format them in a way for programs like Moneydance to be able to read them. Beyond that, there really aren't common standardized formats to use. Many banks are simply no longer offering this basic service to their customers. I encourage you to let your bank know you are unhappy with this decision if you haven't already.
The only other way we have been preparing for this kind of thing is the Moneydance+ service, which uses a third-party aggregator to import your data into Moneydance. The major downside for that is it requires a monthly fee for what used to be free from most banks, and many people don't like the idea of their information going through a third party. You can read more at: https://infinitekind.tenderapp.com/kb/moneydance
Unfortunately we're in a difficult situation where there are good connection and download options, but we can only work with what banks make available to their customers.
Please let me know if I can be of further assistance,
Ethan
Infinite Kind Support
Ethan closed this discussion on 12 Dec, 2025 09:53 PM.