How is the default account funded?

Your default account is automatically funded through the proceeds of your currency conversions and any incoming payments made to your OFX account.

Why is this important?

Understanding how your default account is funded helps you manage your money more effectively within OFX. Here's what you need to know:

Currency conversions — when you convert funds from one currency to another, the converted amount is deposited directly into the relevant currency account. If no matching currency account exists, funds are directed to your default account.
Incoming payments — payments received from external senders (such as wire transfers or direct deposits) that don't match a specific currency account will also land in your default account.
Automatic allocation — OFX automatically routes funds to your default account when there is no other designated account to receive them, ensuring your money is always accessible.

Your default account acts as the central hub for your funds within OFX, making it easy to access and manage your balances from one place.