What is a QFX file and how to open it

A QFX file is Quicken's Web Connect format: a bank or credit card transaction download in OFX format with an extra Intuit bank identifier. Quicken for Windows and Quicken for Mac import QFX files; Excel does not open them directly.

Why the QFX format is used

QFX is not a separate standard. It is an OFX file with Intuit fields added, mainly INTU.BID, a number that identifies the bank in Quicken's list of participating financial institutions. Quicken reads the bank ID to decide which bank the file came from and which Quicken account it belongs to. A bank that offers QFX downloads has an arrangement with Intuit for that.

Like OFX, a QFX file names every field, uses one date format, and gives each transaction a unique ID, so Quicken can import it without a column mapping and skip transactions it already has.

What is inside a QFX file

A QFX file looks like an OFX file with a sign-on block that names the bank:

<SIGNONMSGSRSV1><SONRS>
...
<FI><ORG>Example Bank<FID>10898</FI>
<INTU.BID>10898
</SONRS></SIGNONMSGSRSV1>
<BANKMSGSRSV1>
... account and transactions, as in an OFX file ...

Each transaction carries the date, the signed amount, the payee, a memo, an optional check number and the unique transaction ID (FITID).

Supported account types

• Bank (checking, savings, credit line)
• Credit card
• Investment

How to import a QFX file into Quicken

Quicken (Windows or Mac) imports QFX files through File > File Import > Web Connect File. Quicken then asks which account the transactions go into and shows them for review before they are accepted.

Quicken imports QFX only in versions covered by its support policy; older versions lose Web Connect along with the other online services. See the Quicken sunset policy. For an older Quicken, use a QIF file instead: see what is a QIF file.

Differences between Quicken for Windows and Quicken for Mac

The main difference is how the memo from a QFX file is imported:

• Quicken for Windows imports the QFX memo into the transaction memo, a fully editable field.
• Quicken for Mac imports the QFX memo under the read-only "FI Notes" column.

How to open a QFX file in Excel

QFX is made for importing into Quicken. To work with the transactions in Excel:

1. Download and install ProperConvert.
2. Open the QFX file in the app and review the transactions.
3. Click Convert to save a CSV or Excel file, or copy the transactions to the clipboard and paste them into Excel.

QFX questions

Why does Quicken reject my QFX file?

The usual reasons: the bank ID in the file is not in Quicken's list, the Quicken version is past its sunset date, or the file is an OFX or QBO file renamed to .qfx. A QFX file written with a bank ID Quicken accepts imports into any bank or credit card account.

Can I import a QBO or OFX file into Quicken?

Not directly. Convert it to QFX, which keeps the same transactions and adds the bank ID Quicken expects.

Can I convert a QFX file for QuickBooks?

Yes. QuickBooks Desktop imports QBO, the QuickBooks variant of the same format, and QuickBooks Online imports QFX as well as QBO.