QFX (Quicken OFX data) files are not OFX files
This tutorial explains the difference between OFX file and QFX file. Quicken imports QFX files and does not import OFX files. Quicken set QFX file description as "Quicken OFX data" creating great confusion for its users that believe they need OFX files it import their data.
A confusion you may see when you work with a QFX file.
A OFX file has .ofx extension and the QFX file (Web Connect File) has .qfx extension.
Quicken marks them, when you install Quicken on your computer as Quicken OFX files.
So you can be easily confused, that the .qfx file is actually an OFX file, but it is not.
A QFX file is a Quicken Web Connect File, which Quicken calls Quicken OFX data file.
Quicken doesn't import OFX files, it imports only .qfx files, but calls them Quicken OFX files. So when you use a transaction file converter, for example, the ProperConvert app, and you convert CSV to QFX and you'll get the .qfx file, but you'll see in the file explorer, that it's called Quicken OFX data file,
if you have installed Quicken on your computer. Don't be confused by this description here.
.OFX or .QFX for Quicken [guide]
- QFX files are "Quicken OFX" files
- QFX files are not OFX files
When you install Quicken on your computer, you will see QFX files described as "Quicken OFX" files. This is a great misunderstanding, as Quicken does not import OFX files at all, and imports QFX files only (also, Quicken has to be at not older than three years to import QFX files, and Quicken imports QIF files). The video below explains the confusion about QFX and OFX files.
The short answer for OFX or QFX: QFX
Why? Short answer: Quicken does not import OFX files (even if it says it does). Use the ProperConvert app to convert OFX files to formats compatible with Quicken:
- Convert OFX to QFX (Web Connect) (works for the current Quicken Classic Windows or macOS)
- Convert OFX to QIF (works with older Quicken for Windows)
- Convert OFX to CSV Mint (works with Quicken for macOS)
Explanation
Quicken imports QFX files (not .OFX) and calls them “Quicken OFX files.” From Quicken's point of view, Quicken should import OFX as it calls QFX files “Quicken OFX files.” In reality, Quicken imports QFX files only, and
QFX files are EXTENDED OFX files. It means QFX files follow the OFX specification and have ADDITIONAL ATTRIBUTES that Quicken looks for when it imports a QFX or an OFX file.
Alternatives to QFX format
If you are using Quicken for PC, a great and working alternative is the QIF format. Quicken for PC imports correctly prepared QIF files fine. Quicken versions from 2005 to 2017 import QIF files fine. Quicken Classic (active subscription imports QIF files fine)
If you happened to be a Quicken for Mac (2015-2017) user, there is a possibility to import CSV Mint files (files similar to CSV files exported from Mint). CSV2CSV converts your Excel or CSV files to “CSV Mint” files.
What about the QXF format?
QXF format adds to this confusion, as it looks very similar to QFX. Even more, your autocorrect may switch QXF to QFX or QFX to QXF as you type, so if you ask a support question, you may get an unexcepted answer. QXF format is not for transaction import, but for data transfer: you will replace your whole dataset in Quicken when you get a QXF file successfully imported.
Backup before any import
Safety first: make sure to backup your Quicken file before any import: QFX, QIF, QXF, or even OFX.