Definition: OFX stands for Open Financial Exchange. OFX is a technical standard for the exchange of financial data over the Internet and is used by most financial institutions to allow customers to download transactions to a computer.
After an OFX file is downloaded, it must then be imported into financial software.
Most financial software imports OFX data, with the exception of Quicken, which uses its own brand of OFX called QFX.
Alternate Spellings: ofx
