OFX vs QFX vs QIF: Bank File Formats Explained

Three Formats You Will See in Online Banking

When a bank offers "download transactions," the menu often includes OFX, QFX, QIF, or CSV. They all carry similar facts—date, amount, payee—but they are not interchangeable without conversion.

Quick Comparison

Start here when choosing a download.

OFX

OFX was designed for financial institutions to exchange statements and transactions with desktop and web apps. Files include account metadata and transaction lists with typed fields (amount, posted date, FITID, name/memo).

Prefer OFX when your accounting or treasury tool lists it—structured fields beat PDF and often beat ad-hoc CSV from the same bank.

QFX

QFX is essentially Intuit’s flavor of OFX used by Quicken and related workflows. If your bank labels a download "Quicken," you are usually getting QFX.

You can convert QFX to CSV for Excel review, or QFX to OFX when another system wants generic OFX.

QIF

QIF is an older, simpler plain-text format with letter codes (D for date, T for amount, P for payee). It is less expressive than OFX/QFX but still shows up in legacy exporters and hobbyist tools.

Convert QIF to CSV to analyze in Excel, or CSV to QIF when an old program will not accept modern formats.

!Type:Bank
D05/03/2026
PCloud hosting
T-39.99
LSoftware
^

When to Convert to CSV or Excel

Use OFX/QFX for direct bank feeds into supported software. Convert to CSV when you need filtering, pivots, shared review, or a custom import template.

• QFX to CSV / QIF to CSV for spreadsheet work.
• Clean in the Online CSV Editor.
• CSV to Excel for formatted stakeholder packs.
• Keep the original OFX/QFX/QIF as the audit artifact.

IIF Note (QuickBooks Desktop)

IIF is a different Intuit format aimed at QuickBooks Desktop list and transaction imports—not a bank download synonym for QFX. If you have IIF, use IIF to CSV / IIF to XLSX for review before importing.

Real-World Examples

Choosing formats in practice.

Common Mistakes

Format mix-ups.

• Renaming .qfx to .ofx and hoping software will not notice.
• Editing OFX in Excel and corrupting tags.
• Assuming QIF dates follow ISO (they often use local formats).
• Discarding FITIDs that prevent duplicate imports.
• Treating IIF as a bank statement format.

Best Practices

Keep downloads boring and traceable.

• Prefer OFX/QFX over PDF when the bank offers them.
• Store originals; convert copies to CSV.
• Reconcile converted CSV to statement balances.
• Redact account numbers before sharing.
• Use the Finance File Converter instead of hand-parsing tags.

Why Use Convert CSV Online?

Convert CSV Online is free, browser-based, and requires no account for everyday conversions. The Finance File Converter hub handles QFX/QIF/IIF and related flows so you can reach CSV or Excel without installing desktop converters. Client-side workflows work on Windows, macOS, and Linux browsers.

Conclusion

OFX is the open structured download, QFX is Intuit’s common variant, and QIF is the legacy plain-text option. Convert to CSV when humans need spreadsheets—and keep the original bank file for accuracy and audit.