Convert QIF to OFX

Understanding QIF and OFX file formats

QIF (Quicken Interchange Format) is a legacy file format developed by Intuit for transferring financial data between different software applications. It is a plain text format that stores information about bank transactions, investments, and other financial records. QIF files are widely used for importing and exporting data from older versions of Quicken and other personal finance software.

OFX (Open Financial Exchange) is a more modern and standardized file format for exchanging financial data. Developed by Microsoft, Intuit, and CheckFree, OFX is used by many banks and financial institutions to provide transaction downloads. It supports a broader range of data types and is more robust and secure than QIF.

Why convert QIF to OFX?

Many modern financial software applications and online banking platforms have phased out support for QIF in favor of OFX. Converting your QIF files to OFX ensures compatibility with current tools, enables easier data import, and provides better data integrity and security.

How to convert QIF to OFX

To convert QIF files to OFX, you need a reliable file conversion tool. The process typically involves:

1. Opening your QIF file in the converter software.
2. Selecting OFX as the output format.
3. Configuring any necessary settings (such as account type or currency).
4. Exporting or saving the converted file as OFX.

Best software for QIF to OFX conversion

ProperSoft QIF2OFX is one of the most popular and reliable tools for this conversion. It offers a user-friendly interface and supports batch processing. To convert using ProperSoft QIF2OFX:

• Download and install ProperSoft QIF2OFX from the official website.
• Launch the application and use File → Open to select your QIF file.
• Review and adjust the account settings if needed.
• Click Convert to generate the OFX file.
• Save the OFX file to your desired location.

Other alternatives include MoneyThumb QIF2OFX Converter and OnlineConvertFree for web-based conversions.

Tips for successful conversion

• Always back up your original QIF files before conversion.
• Check the converted OFX file for accuracy by importing it into your financial software.
• Ensure your converter supports your specific QIF file version and data type.