Using OFC statements in Microsoft Money 2005 and later versions

The ability to import OFC statements from online banks was removed in Microsoft Money 2005. It was first introduced with Microsoft Money 97, followed the next year by the OFX standard (OFC is a Microsoft standard). See Article 235 for some information on the OFC protocol and statements.

OFX however, can be used in more than just Money - it is also used in Quicken for example. No work however, has been done on OFC for quite a time and Microsoft removed it in the 2005 version of Money, preferring to have to support less. This is probably true for the banks too, so many of them were only supporting the more modern statement format of OFX.

If you're downloading statements in OFC format, then if you are able to, switch to OFX. If you can only download from the bank as an OFC statement, then you may need to lobby your bank to change over to OFX. Microsoft are not going to restore the OFC statement functionality in future versions of Microsoft Money.

It is possible to convert OFC to OFX, but you'd need to use a third party tool. There are currently two programs that I am aware of - MnyBank and MT2OFX (see the links below).

These two programs provide slightly different functionality - a summary is below:

What MnyBank does and Mt2Ofx can't do:

- view and edit files
- archive files
  • MnyBank File converter
  • Article 181 - MnyBank Statement File Editor, Archiver and Converter Article (in English)
  • Article 182 - MnyBank éditeur, archiveur et convertisseur de fichiers de transactions bancaires (en Français)

What Mt2Ofx does and MnyBank can't do:

- process CSV and QIF files with date format mm/dd/yyyy or yyyy/mm/dd
- process MT940 files
- add new bank support with scriptingOther items removed in Microsoft Money

Categories: Online, ImportExport

Keywords: 2007, OFC, 2005, 2006, statement