Why OFX files look strange in Excel
An OFX file is text with tags like <STMTTRN> and <TRNAMT>, written for finance software rather than people. Opening it in Excel shows those tags instead of a table. Converting reads the transactions out of the file and lays them out as rows and columns.
What you get
A real .xlsx workbook with one row per transaction: date, description, memo, amount or separate debit and credit columns, transaction type, check number and the bank's transaction ID. Dates are true Excel dates, amounts are formatted, and filters are on in the header row.
Questions
How do I open an OFX file in Excel?
Drop it here and download the Excel version. Excel can't turn OFX tags into a table on its own.
Does it work with QFX and QBO files?
Yes. They're built on OFX, so they convert the same way.
My file has several accounts. What happens?
You choose which account to convert. Repeat for the others.
Can I open the result in Google Sheets?
Yes. Upload the .xlsx to Google Drive and open it with Google Sheets.
Is my data safe?
Your file is read and converted inside your own browser. It is never uploaded to a server, so nobody else can see your transactions.