Revolut does not export bank statements in OFX format directly, but you can convert a Revolut PDF or CSV statement to OFX using a dedicated converter tool. OFX (Open Financial Exchange) is the format accepted by most UK accounting software, including Sage 50, QuickBooks Desktop, and FreeAgent. The conversion process takes under two minutes: download your statement from the Revolut app, run it through a converter, and import the resulting OFX file into your accounting package. This guide walks you through each step.
Why Revolut Statements Don't Come in OFX Format
Revolut is regulated by the Bank of Lithuania and operates as an e-money institution in the UK under FCA authorisation (FRN: 900562). It was granted a UK banking licence by the Prudential Regulation Authority in July 2024, which means it now holds deposits under FSCS protection up to £85,000. Despite this, Revolut's export options remain limited compared to traditional high-street banks.
From the Revolut app, you can download your statement in two formats:
- PDF — a formatted document showing your transactions, balances, and account details
- CSV — a raw data file with columns for date, description, amount, currency, and running balance
Neither of these is OFX. That matters because most desktop accounting software expects OFX (or its close relative, QFX) when you use the manual import function. OFX files carry structured transaction data including a unique transaction ID, posting date, and memo field, which accounting software uses to avoid duplicates and match transactions automatically.
What Is OFX and Why Does Your Accounting Software Want It?
OFX stands for Open Financial Exchange. It is an XML-based file format developed in 1997 by a consortium including Microsoft, Intuit, and CheckFree. UK accounting software adopted it as a standard for manual bank imports because it carries more data than a plain CSV.
A single OFX transaction entry looks something like this:
<STMTTRN>
<TRNTYPE>DEBIT
<DTPOSTED>20250312
<TRNAMT>-42.50
<FITID>REV-20250312-001
<MEMO>AMAZON EU SARL
</STMTTRN>
That FITID field is what prevents duplicate imports. When you import the same OFX file twice, your software recognises the ID and skips the transaction. With a raw CSV, many packages will import duplicates silently, creating reconciliation headaches.
Software that accepts OFX imports includes:
| Software | Accepts OFX? | Also accepts QFX? | Notes |
|---|---|---|---|
| Sage 50 | Yes | No | Use OFX for manual import |
| QuickBooks Desktop | Yes | Yes | QFX preferred for Quicken users |
| FreeAgent | Yes | No | Import via bank account settings |
| Xero | No | No | Use CSV import instead |
| KashFlow | Yes | No | OFX recommended |
| AccountEdge | Yes | Yes | Both formats work |
Xero is the notable exception. Xero dropped OFX support in favour of its own CSV template and Open Banking feeds. If you use Xero, you will want to convert your Revolut statement to a Xero-compatible CSV rather than OFX.
How to Convert a Revolut Statement to OFX: Step by Step
Step 1: Download your Revolut statement
Open the Revolut app on your phone. Go to your account, tap the three-dot menu in the top right corner, and select Statements. Choose the date range you need — Revolut lets you select custom date ranges going back to your account opening date. Download as PDF or CSV.
For the converter, CSV is slightly preferable to PDF because the data is already machine-readable. PDF works too, but the converter has to parse the layout first, which adds a small processing step.
Step 2: Upload to the converter
Head to the Revolut statement converter at convertbank-statement.com. Select Revolut as your bank, upload your file, and choose OFX as the output format. The tool accepts both PDF and CSV inputs.
The converter recognises Revolut's standard column layout: date, description, paid out, paid in, exchange rate (for foreign currency transactions), and balance. It maps these to the correct OFX fields automatically.
Step 3: Review and download
Before downloading, the preview screen shows you the parsed transactions. Check that:
- The date range matches what you expected
- Transaction amounts are in GBP (or the correct currency if you hold a Revolut foreign currency account)
- Any foreign currency transactions show the converted GBP amount
Once you are happy, click Download OFX. The file saves to your device immediately.
Step 4: Import into your accounting software
The import path varies by software:
- Sage 50: Bank module > Bank Feeds > Import Statement > select your OFX file
- QuickBooks Desktop: Banking menu > Bank Feeds > Import Web Connect File
- FreeAgent: My Money > Bank Accounts > select your account > Import Transactions > upload OFX
- KashFlow: Bank > Import Statement > OFX/QFX
After import, run your standard reconciliation. Revolut transactions import with the memo field populated from the merchant name, which makes matching straightforward.
Handling Revolut's Multi-Currency Transactions
Revolut is popular precisely because it handles foreign currency spending well, typically converting at the interbank rate with no markup during weekday hours. However, this creates a wrinkle for UK accounting.
If you spent €120 in Spain and Revolut converted it to £103.45, your OFX file should show the GBP amount (£103.45) as the transaction value, with the original EUR amount and exchange rate in the memo field. This is what HMRC expects for VAT and income tax purposes — you report in sterling.
The converter at convertbank-statement.com handles this automatically for Revolut CSV exports, because Revolut includes the exchange rate and original currency in separate columns. For PDF exports, the parser extracts this from the transaction description line.
If you are VAT-registered and processing invoices paid in foreign currencies, double-check the GBP amounts against HMRC's published exchange rates or the actual rate on your Revolut statement. HMRC allows you to use either the rate on the transaction date or a monthly average rate — your accountant can advise which suits your situation better.
What Format Does HMRC Require for Bank Records?
HMRC does not mandate a specific file format for bank records. What it requires is that your records are accurate, readable, and retained for the correct period — six years for VAT-registered businesses, five years after the 31 January submission deadline for self-assessment.
Under Making Tax Digital for Income Tax Self Assessment (MTD for ITSA), which applies to sole traders and landlords with income over £50,000 from April 2026 and those over £30,000 from April 2027, you must keep digital records and submit updates quarterly through MTD-compatible software. Revolut transactions processed through accounting software via OFX import satisfy this requirement, provided your software is on HMRC's list of MTD-compatible products.
You do not need to submit your OFX files to HMRC. They are an internal record-keeping and import tool. What matters is that the transactions end up correctly categorised in your MTD-compatible software.
Choosing the Right Converter for Revolut Statements
Not all converter tools handle Revolut's format well. Revolut changed its CSV column structure in late 2023, adding a separate column for the original currency amount. Older or unmaintained converters may misread this and produce incorrect OFX files.
Before committing to any tool, check whether it:
- Explicitly lists Revolut as a supported bank
- Has been updated within the past 12 months
- Handles multi-currency rows correctly
- Produces a valid OFX file (some tools produce a CSV with an .ofx extension, which is not the same thing)
You can compare options in the best bank statement converter guide for 2026, which reviews tools specifically on Revolut compatibility.
For pricing details on convertbank-statement.com's conversion plans, see the pricing page. There is a free tier that covers a limited number of pages per month, which suits occasional users, and a paid plan for accountants processing multiple client statements regularly.
About the author: Sarah Mitchell is a chartered accountant with over 12 years of experience supporting UK small businesses and sole traders with bookkeeping, software migration, and HMRC compliance.
Frequently Asked Questions
Can Revolut export statements directly in OFX format? No. Revolut only exports statements as PDF or CSV. To get an OFX file, you need to convert your Revolut PDF or CSV using a third-party converter tool.
Will a Revolut OFX file work with Xero? Xero does not accept OFX file imports. For Xero, you should convert your Revolut statement to a Xero-compatible CSV format instead. Alternatively, use Revolut's Open Banking connection if your Xero plan supports it.
How far back can I download Revolut statements? Revolut allows you to download statements covering your full account history, back to the date you opened the account. You can select custom date ranges in the app under Statements.
Does converting a Revolut statement to OFX affect the transaction amounts? No. A converter maps the data from one format to another without changing the values. GBP amounts, dates, and merchant names remain exactly as they appear in your original Revolut statement.
Are Revolut business accounts handled differently from personal accounts? Revolut Business statements follow the same CSV and PDF export structure as personal accounts, so the conversion process is identical. The main difference is that business accounts may have more transaction columns, such as expense categories, which the converter ignores during the OFX mapping.
Is it safe to upload my Revolut bank statement to an online converter? You should only use converters that process files securely and do not store your data after conversion. Check the tool's privacy policy before uploading. Reputable converters process the file in your browser or delete it from their servers immediately after the converted file is downloaded.
Last reviewed: 2026-05-09
