Many FIs provide investment accounts that allow users to write checks and perform other traditional banking transactions, as well as investment transactions. OFX requires FIs to indicate in the download whether check writing privileges exist for a given account. FIs need to use the correct transactions record, bank or investment, for each real-world transaction. Those that are completely unrelated to investment should be sent as a bank record. Investment Statement Download Investment statement download allows a customer to receive transactions, positions, open orders and balances that are typically part of a regular paper statement.
Clients can retrieve statement data on a daily basis if they wish.
Clients usually allow customers to view investment transactions and guide customers through a process of updating their account registers based on the downloaded transactions. By using transactions Ids supplied by FIs, OFX makes it possible for clients to insure that each transaction is downloaded only once. The request also contains starting and ending dates to limit the amount of downloaded data. Clients can remember the last date they receive a download, and use that date as the starting date in the next request. Investment statement download requires the client to designate an account for the download, and to indicate what type of data should be downloaded.