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QBO vs QFX vs OFX vs QIF vs CSV: Bank File Formats Explained

Banks offer transaction downloads in several formats. They all carry the same basic data, such as dates, amounts, and payees, but they differ in structure and in which programs will open them.

The short version:

• QuickBooks Desktop: QBO
• QuickBooks Online: QBO, QFX, OFX, or CSV
• Quicken: QFX
• GnuCash and similar apps: OFX, QFX, QIF, or CSV

OFX: the open standard

OFX stands for Open Financial Exchange. Microsoft, Intuit, and CheckFree created it in 1997 as a common format for exchanging financial data. An OFX file is structured text (SGML in older versions, XML in newer ones) that holds account details and a list of transactions.

Each transaction in an OFX file has a unique ID called a FITID. Software uses it to recognize transactions it has already imported, which helps prevent duplicates. That ID is the main advantage the OFX family (OFX, QFX, and QBO) has over QIF and CSV.

QFX: Quicken’s version of OFX

QFX is OFX with extra Intuit-specific fields, including an ID for the bank that Quicken checks. Banks usually label it as a Quicken or Web Connect download. Quicken imports it through File > File Import > Web Connect File.

Quicken for Windows doesn’t import plain OFX files, so QFX is the one to download for Quicken.

QBO: QuickBooks Web Connect

QBO is the Web Connect format for QuickBooks. Like QFX, it’s OFX with Intuit-specific fields. It’s the only bank file format QuickBooks Desktop imports, and QuickBooks Online accepts it too.

Don’t confuse the .qbo file format with “QBO” as shorthand for QuickBooks Online. Both uses are common, and they mean different things.

QIF: the older plain-text format

QIF, the Quicken Interchange Format, is an older plain-text format. Each line starts with a one-letter code, and a caret ends each transaction:

!Type:Bank
D01/15/2026
T-42.50
PACME UTILITIES
^

Here D is the date, T is the amount, and P is the payee. QIF has no unique transaction IDs, so importing the same file twice can create duplicates, and its date formats can be ambiguous.

Quicken’s support for QIF has shifted over the years. For a long stretch, Quicken for Windows didn’t allow QIF imports into checking, savings, or credit card accounts. Quicken’s newer help pages say current versions accept QIF for any account type, while some of its support pages still describe the restriction. Check your version. For bank accounts, QFX is the more reliable choice.

QuickBooks doesn’t import QIF bank files. GnuCash and several other personal finance apps still do.

CSV: the generic spreadsheet export

CSV (comma-separated values) is a plain spreadsheet export that opens in Excel, Google Sheets, or any text editor. It’s the most widely available format, but there’s no standard layout. One bank uses a single Amount column, another splits Debit and Credit, and date formats vary. CSV files also don’t include account details or transaction IDs.

QuickBooks Online imports bank CSVs laid out in three columns (Date, Description, Amount) or four (Date, Description, Credit, Debit). QuickBooks Desktop’s bank feeds don’t accept CSV files. Its Excel/CSV import (File > Utilities > Import) adds transactions straight to your registers, without the matching and duplicate protection of bank feeds. Quicken’s CSV support depends on the version.

Which program accepts which file

Program behavior can change between releases, so check your software’s help pages if an import fails.

Which converter to use

If your bank doesn’t offer the format your software needs, convert the file you have:

• CSV export, and you use QuickBooks: our CSV to QBO converter. Excel files can be saved as CSV first.
• Quicken (QFX) download, and you use QuickBooks Desktop: QFX to QBO.
• OFX file from a bank or another app: OFX to QBO.
• QIF file, such as an export from an older Quicken version, and you’re moving to QuickBooks: QIF to QBO.
• You need QIF, QFX, or CSV instead: our converter exports those formats too.

Once you have a .qbo file, follow our guide to importing bank transactions into QuickBooks Desktop.

Which format should you download?

If your bank offers the native format for your software, use it: QBO for QuickBooks Desktop, QFX for Quicken. Those files import with the fewest problems, and their transaction IDs protect you from duplicates. Use CSV when you want to work with the data in a spreadsheet, and QIF only when your software requires it.