Free online QFX to QIF converter

A bank may provide transactions as .qfx while an older accounting program accepts only .qif. Converting the download creates an importable copy for another program, offline review, or archival storage.

What QFX is

QFX is Quicken's file extension for a bank-download format based on Open Financial Exchange (OFX). Banks, credit unions, brokerages, and payment providers may offer it as a Web Connect download, and Quicken can use it to add transactions to an account.

A QFX file can contain account and institution identifiers, balances, transaction dates, payees, amounts, memos, check numbers, transaction types, and bank-assigned transaction IDs. It is structured text containing an OFX header and financial records in SGML-like or XML-like syntax. QFX is intended for financial software, not for changing transactions manually in a text editor.

A bank website may label the download Quicken Web Connect, Quicken, or QFX. The exact contents depend on the institution and account type.

What QIF is

QIF (Quicken Interchange Format) is a plain-text transaction format supported by Quicken versions with QIF import, GnuCash, and many legacy personal-finance and bookkeeping applications. A typical record uses tags such as D for date, T for amount, P for payee, M for memo, and L for category or transfer account; ^ ends each transaction.

QIF is useful when the destination program does not accept QFX or OFX, or when transactions need to remain readable as text. It is less dependent on a bank connection than QFX, but it does not preserve every field supported by modern online-banking formats and has no single, consistently implemented standard for all account types.

Convert with dedicated desktop software

MoneyThumb QFX2QIF and ProperSoft Bank2QIF are dedicated desktop options. Use the vendor's official download, because financial files contain account and transaction data.

1. Make a backup of the original file, such as checking.qfx, and do not edit or overwrite it.
2. Open the converter and select the QFX file.
3. Choose the correct account type, such as bank, credit card, cash, or investment, if the software asks. Set the currency, date format, and sign convention when those settings are available.
4. Inspect the detected account, date range, transaction count, payees, and debit or credit signs. Apply category or transfer mappings only if the converter supports them.
5. Export the result as checking.qif. Some programs create separate QIF files for separate accounts.
6. In the destination program, use its QIF import command, commonly File → Import → QIF. Import into a new or duplicate account first.
7. Compare the imported transaction count, opening balance, ending balance, date range, and transfers with the source data before merging the account.

Dedicated software is usually preferable for bank data because the conversion occurs locally. A hosted converter can be used only when the provider clearly identifies the company, explains retention and deletion, uses HTTPS, and states that uploaded files are not reused. Check the official MoneyThumb or ProperSoft site for any current online service; product names and availability change. Do not upload an unredacted bank file to a generic file-conversion site.

Convert through Quicken

Quicken for Windows can serve as an intermediate application when its version accepts the QFX download and provides QIF export:

1. Choose File → File Import → Web Connect (.QFX) File and select the download.
2. Link it to the correct existing account, or import it into a temporary account for testing. Linking to the wrong account can create duplicates or mix accounts.
3. Review and accept the downloaded transactions according to Quicken's workflow.
4. Choose File → Export → Quicken Interchange Format (QIF) File, if that command is available.
5. Select the account and date range, save the output, and import the resulting QIF into the target application.

QFX acceptance and QIF export depend on the Quicken product, operating system, financial institution, and account type. A bank file can be rejected because of an unsupported institution identifier, an expired download, or an account connection restriction. In that case, use a dedicated converter rather than changing the extension or manually rewriting the QFX text.

Quality and compatibility limits

• Conversion can discard the QFX account identifier, institution metadata, bank transaction ID, pending status, online-banking connection data, balance records, and reconciliation fields.
• QFX normally does not contain the destination program's category rules. Payees and memos may transfer while categories remain blank or require remapping.
• Transfer links can become ordinary transactions if the converter cannot match both sides of the transfer. Check transfers separately.
• Debit and credit signs vary between programs. Compare account totals rather than assuming that a positive or negative amount has the same meaning in both applications.
• Investment data requires a converter with explicit investment support. Holdings, securities, prices, commissions, and investment actions may not map correctly to ordinary QIF records; retain the original QFX.
• QIF has limited and inconsistent support for multiple currencies, exchange rates, pending transactions, and account-level balances. Verify currency and opening balance separately.
• QIF is plain text and may expose complete financial details. Store it like a bank statement, restrict access, and delete temporary copies from shared or cloud folders.