What data format is required by iBank 4 for my bank to transfer my checking account information?
- Asked by Cliff W from Covington
- Jan 23, 2011
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1 Answer from the Community
If your bank offers direct downloads (often called Direct Connect), the data format is usually via the protocol known as Open File Exchange (OFX). This standard format is entirely compatible with iBank.
If your bank doesn't offer this, or charges a fee for access to this service, you may also use the web download method with iBank. Banks often offer data downloads in a variety of compatible formats, while some banks provide several download options without specifying which file type each one uses. Generally speaking, they may let you select among Microsoft Money (OFX), Quicken Web Connect (QFX), or Quicken (QIF).
You do not actually need to own the software indicated to download a file in a particular format - just use the software name as a guide to determine the file type you need, and iBank will work with any of those.
- Answered by Scott B from Putney
- Feb 7, 2011