What is a QFX file?
QFX (Quicken Financial Exchange) is Intuit's proprietary variant of the OFX (Open Financial Exchange) standard. Banks provide QFX files for users who want to import transaction history into Quicken. The file contains bank account information, transaction amounts, dates, descriptions, and reference numbers.
Technically, QFX is nearly identical to OFX 1.x SGML format. The key additions are the INTU.BID element (Intuit Bank ID) and optionally INTU.USERID in the SONRS (sign-on response) section. These Intuit-specific elements are what distinguish QFX from generic OFX.
QFX files do not work directly in QuickBooks Desktop, which requires .qbo files. Converting QFX to QBO involves adjusting these INTU elements. Transaction data in the file is identical — only the header changes.
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How to open a QFX file
- In Quicken: File → Import → OFX or Bank File → select the .qfx file.
- In QuickBooks Desktop: convert to QBO first using QBOConvert, then import via Web Connect.
- In GnuCash or other OFX-compatible software: rename to .ofx or convert to OFX (stripping INTU elements).
Questions
Is QFX the same as OFX?
QFX is a superset of OFX 1.x. All QFX files are valid OFX, but not all OFX files are valid QFX — QFX specifically requires the INTU.BID element.
Can I open a QFX file in a text editor?
Yes. QFX files are plain text in SGML-like syntax (similar to XML but with tag-only elements and no closing tags in the older format). Opening in any text editor shows the structure.
Why does my bank give me QFX instead of QBO?
Banks configure their OFX download endpoints to output either QFX (for Quicken) or QBO (for QuickBooks). Some banks provide both; others provide only one. If your bank offers only QFX, convert it to QBO with QBOConvert.