Why is this happening?
Banks offer .ofx and/or .qbo as a format for their statements to be downloaded. While for most banks, you can import their file just fine, for some banks, you may receive the error “OFX Security unsupported” upon attempt to import. This has to do with a security setting within the file.
Good news is there is a quick fix to allow this file to be imported.
How to fix this error
- Open the .qbo file using notepad. If you have a .ofx file, you must first rename the extension to be .qbo and then open using notepad
- You will then see lines of information in this file. Towards the top (around line#4) you will see SECURITY: TYPE1
- Erase TYPE 1 and replace it with NONE so that it now reads SECURITY: NONE
- Go to File > Save As and rename the file so that you know which is the fixed one.
- This is the file you then want to import into CosmoLex.