What is a QFX file?
By the Banking Converter editorial team
Published
A QFX file is a bank download in Quicken's Web Connect format. Like QBO for QuickBooks, it is an OFX 1.x document with an Intuit bank identifier (INTU.BID) that Quicken validates before importing. Quicken for Windows and Mac import QFX through File, File Import, Web Connect (.QFX) file, and use the transaction ids inside to avoid duplicates.
QFX, QBO and OFX
| OFX | QFX | QBO | |
|---|---|---|---|
| Reader | Many applications | Quicken | QuickBooks |
| Base format | OFX 1.x or 2.x | OFX 1.x | OFX 1.02 |
| Intuit identifiers | None | INTU.BID (and often FI block) | FI block and INTU.BID |
| Validated against Intuit's bank list | No | Yes | Yes |
| Extension | .ofx | .qfx | .qbo |
Because the identifiers belong to banks that have a Web Connect agreement with Intuit, a QFX file for a bank without one cannot be validly produced. The OFX converter writes standard OFX; Quicken users whose bank is not on Intuit's list should check the alternatives below.
Importing into Quicken
- Quicken for Windows: File, File Import, Web Connect (.QFX) file. Choose the file and link it to an existing account.
- Quicken for Mac: File, Import, Bank or Brokerage File (OFX, QFX). Quicken for Mac accepts OFX as well as QFX, which makes it more flexible than the Windows edition.
- Quicken uses the FITID to skip transactions already in the register; a stable id is what makes repeat imports safe.
When your bank has no QFX
- Quicken for Mac: import the OFX file directly.
- Quicken for Windows: newer versions can import CSV through a mapping dialog for some account types; otherwise convert the statement to CSV and use Quicken's import.
- QIF: older Quicken versions read QIF, but it lacks transaction ids; see what is a QIF file.
Frequently asked questions
Can I rename an .ofx file to .qfx?
Renaming does not add the INTU.BID that Quicken for Windows checks, so the import usually fails or attaches to the wrong institution. Quicken for Mac reads OFX without renaming.
Does QFX contain my balance?
Yes, the ledger balance and its date, like any OFX statement. Quicken compares it to the register after import.
Other bank statement converters
About the author
The Banking Converter editorial team is the engineering group that builds and tests the conversion engine: the parsers for regional date and number formats, the reconciliation checks and the CSV, Excel, JSON, OFX and QBO exporters. Guides describe what the software does and what the formats require; they are not financial, legal or tax advice.