Free online QFX to OFX converter

A bank may provide transactions as .qfx while accounting software accepts only .ofx. Converting the download produces a file that an OFX-compatible application can import without manually re-entering transactions.

What the QFX format is

QFX is Quicken Web Connect, a bank-download format based on Open Financial Exchange (OFX). Banks and financial institutions provide QFX files for import into Quicken and some other personal-finance applications.

A QFX file can contain account details, transaction dates, payees, amounts, transaction identifiers, statement balances, currency information, and bank-specific fields. The format may use OFX 1.x syntax or OFX 2.x syntax and can include Intuit- or institution-specific headers that an ordinary OFX importer does not recognize.

What the OFX format is

OFX is an open format for exchanging bank, credit-card, brokerage, and other financial data. Bookkeeping, personal-finance, accounting, and some tax applications use it to import transactions and account statements.

OFX 1.x uses an SGML-like syntax, while OFX 2.x uses XML. OFX is often accepted by more applications than a bank-specific QFX download, but support still depends on the destination program, OFX version, account type, and the fields present in the file. OFC is a different, older format; changing QFX to OFC is not the same conversion.

How to convert QFX to OFX

Before converting, check the destination application's import documentation. If it accepts QFX directly, importing the original file avoids unnecessary changes and normally preserves the bank's data most accurately.

1. Open the QFX-to-OFX converter on 101convert.com. The built-in service can be used free of charge without installing software.
2. Select the source file with the .qfx extension.
3. Start the conversion and download or save the resulting file with the .ofx extension.
4. In the accounting or finance application, open its bank-statement import command, commonly File → Import → OFX, and select the converted file.
5. Map the account if the application asks for one, then review the imported date range, transaction count, payees, amounts, transaction types, currency, and opening and closing balances before reconciliation.

Some QFX files are already structurally close to OFX, so changing .qfx to .ofx may work in a particular application. That is only a filename change, not a conversion: it does not remove QFX-specific headers or repair incompatible syntax. Use a real converter when the importer rejects the renamed file.

Desktop alternatives

If the statement contains sensitive banking information, use a local finance application that can read QFX and export OFX. The exact commands vary; look for an option such as File → Export or Banking → Export, then select OFX. Do not edit the file in a word processor or spreadsheet, because those programs can change delimiters, encoding, dates, amounts, or tags and produce an invalid financial file.

Compatibility and data checks

Conversion cannot restore information missing from the QFX source. Depending on the converter and destination program, unsupported bank-specific fields, investment lots, recurring-payment data, category assignments, attachments, memo text, pending status, or duplicate-detection identifiers may be omitted or changed.

Keep the original QFX file as a backup. Verify the account number or masked identifier, account type, currency, institution details, date range, and statement balance. A destination program may reject an otherwise valid OFX file if its expected currency, account type, institution identifier, date format, or OFX version differs.

Import the converted file only once unless the application has duplicate detection. Compare the transaction count and closing balance with the bank statement, and inspect transfers, refunds, negative amounts, and pending transactions individually.