QFX file format: what a QFX file is and how to open, import, or convert it
Quick answer
A QFX file (Quicken Financial Exchange) is the file your bank gives you when you choose "Download to Quicken" or "Web Connect". It is Intuit's version of the open OFX format: plain text holding your account details and a list of transactions, plus a tag that identifies the bank to Quicken. You import it in Quicken with File > File Import > Web Connect File. QuickBooks Online also accepts QFX uploads. ("QXF" is a common typo for QFX - it's the same thing.)
What's inside a QFX file
A QFX file is a text file in OFX (Open Financial Exchange) structure. Open one in a text editor and you'll see a short header, then tagged blocks:
- Sign-on block - who produced the file, plus an INTU.BID tag that identifies the bank to Quicken.
- Account block - the bank (routing) ID, account number, and account type.
- Transaction list - one entry per transaction with a unique transaction ID (FITID), date, amount, and payee or memo.
- Balance - the ledger balance as of the download date.
QFX vs OFX vs QBO vs QIF
QFX, OFX, and QBO are close relatives: all three use the OFX structure and carry the same transaction data. The differences are who the file is labelled for and which program accepts it.
| Format | Made for | Structure | Typical use |
|---|---|---|---|
| QFX | Quicken | OFX + Intuit tags | Bank download (Web Connect) into Quicken |
| QBO | QuickBooks | OFX + Intuit tags | Bank download (Web Connect) into QuickBooks |
| OFX | Any finance software | Open standard | Generic export many tools can read |
| QIF | Older Quicken, GnuCash, Moneydance | Plain-text line codes | Legacy import; current Quicken for Windows won't take it for bank accounts |
How to open a QFX file
- In Quicken: File > File Import > Web Connect File, then choose the account to link it to.
- In QuickBooks Online: upload it from the bank account's Upload from file option - Intuit lists QFX among the accepted transaction files.
- To just look at it: open it in any text editor (Notepad, TextEdit, VS Code). It's readable text, not a binary file.
- In Excel: Excel doesn't read QFX as a table. Convert the QFX to CSV first (free, in your browser), or convert the PDF statement for the same period to Excel.
Why Quicken sometimes rejects a QFX file
Quicken reads the bank identifier inside the file to decide which institution it came from. Files produced by third-party tools, edited by hand, or downloaded for an account that is already linked to a different connection can be refused. The most dependable QFX is the one downloaded straight from your bank's website for the account you're importing into.
Only have a PDF statement?
Banks often only keep older months as PDF statements, and closed accounts frequently lose their download options. StatementTidy converts a digital PDF statement to QFX, QBO, CSV, Excel, or QIF in your browser, reconciled against the statement's opening and closing balances. Already have a QFX and need QBO or CSV? Use the QFX to QBO converter.
Working from a PDF statement?
Converted in your browser - your statement never leaves your device.
Doing this monthly or across clients?
Batch multi-file conversion and direct QuickBooks/Xero sync — join the early-access list. We only collect your email, never your statement.
Frequently asked questions
What is a QFX file?
A QFX (Quicken Financial Exchange) file is a bank transaction file in Intuit's version of the OFX format. Banks provide it through "Download to Quicken" or Web Connect so Quicken can import transactions without manual entry.
What's the difference between QFX and QBO?
Both are OFX-based files with Intuit-specific tags and the same kind of transaction data. QFX is labelled for Quicken and QBO for QuickBooks, and each program expects its own format.
What's the difference between QFX and OFX?
OFX is the open standard; QFX is Quicken's branded version of it, with extra Intuit tags such as the bank identifier Quicken checks on import.
Can I open a QFX file in Excel?
Not as a usable table. Open it in a text editor to read it, or, if you have the PDF statement for the same period, convert the PDF to Excel or CSV instead.
Can QuickBooks import a QFX file?
QuickBooks Online lists QFX among the transaction files it accepts through Upload from file. QuickBooks Desktop expects QBO (Web Connect) files.
What is a QXF file?
Almost always a typo for QFX - there's no separate QXF bank format.