OFX to QFX Converter
Quicken cannot import an OFX file — Intuit says so outright. Convert OFX to QFX here and it imports as Web Connect, in about a second.
A free OFX to QFX converter — convert OFX to QFX online, with no signup and nothing to install. Used by bookkeepers, accountants and Quicken users on Windows and Mac.
How to Convert OFX to QFX Online
Upload Your OFX File
OFX 1.x (SGML) and OFX 2.x (XML) both work. You do not need to know which one your bank gave you.
Leave the Institution on Generic
Search 5,537 institutions Quicken registers for Web Connect, or leave it on Generic — the safe pick, and why is below.
Import as Web Connect
File > File Import > Web Connect File. The QFX carries the INTU.BID tag Quicken looks for.
OFX vs QFX: The Only Real Difference
Your transactions are not the problem. One tag is.
| In the file | OFX | QFX |
|---|---|---|
| Transactions, dates, amounts | Identical | Identical |
| FITID, balances, memos | Identical | Identical |
| INTU.BID institution tag | Absent | Present |
| Quicken will import it | No | Yes |
<FI> <ORG>My Credit Union <FID>0000 </FI>
<INTU.BID>3000 <-- the whole difference
This is why renaming .ofx to .qfx fails. The tag is inside the file, not in its name — Quicken opens the renamed file, finds no BID, and shows the same error.
"Unable to Verify the Financial Institution" — 4 Causes
One error message, four different problems. Only two are about your file.
No INTU.BID in the file
fixed hereA plain .ofx from your bank
The case this tool fixes. Upload it above.
A BID Quicken rejects
fixed hereYou picked your bank by name
Switch the institution back to Generic and convert again.
Expired Quicken subscription
A file that worked last month now fails
Check your subscription — it produces this same sentence on a good file.
Bank dropped Web Connect auth
Even the bank’s own QFX fails
Downloads and authorisation are separate services. No file can fix this.
Which Institution to Pick When You Convert OFX to QFX
Picking the wrong one is the most common way this conversion fails.
Generic — the default
Right for anyone importing by hand. Quicken shows a placeholder bank name; rename the account and the transactions are unaffected.
Name your bank — rarely
Only if you also use Quicken's online services for that account. Otherwise it buys a label and a new way to fail.
The trap, measured. Intuit runs two institution directories and they disagree. Our Bank of America entry is, in Quicken's own directory, a retired row with no Web Connect registration — picking it by name reproduces the exact error you came here to fix. So the QFX picker follows Quicken's list, and Bank of America falls back to Generic.
What is OFX?
Open Financial Exchange
The open standard. Holds dates, payees, memos, check numbers, a FITID per transaction and a closing balance. GnuCash, Moneydance, Xero, Sage and Microsoft Money all read it. Quicken is the notable refusal.
What is QFX?
Quicken Web Connect
Intuit’s licensed dialect of OFX — the same file plus an INTU.BID tag naming a registered institution. Banks pay Intuit for that registration, which is why yours may offer OFX but not QFX.
What This Free OFX to QFX Converter Gets Right
Adds the INTU.BID Tag
Quicken resolves the institution from that one tag — Intuit’s financial institution ID — before reading a single transaction. A plain OFX has none — which is why renaming the file never works.
Filtered to Quicken’s Own List
Intuit keeps separate directories for Quicken and QuickBooks, and they disagree. This picker follows Quicken’s — 5,537 searchable institutions for a checking account, 1,227 for a credit card.
Consistent Account Number
Quicken matches a file to a register on bank ID plus account number. Pre-filled from your OFX and editable, so every month can agree — ****1483 works fine.
Read From the Spec, Not Guessed
OFX 1.x SGML and 2.x XML go through the same parser. Nothing is sent to a model — what comes out is your file plus a BID, not a reinterpretation of it.
Investments Stay Investments
QFX is the only target here that keeps holdings, quantities and unit prices as a real register. The institution list switches to investment providers on its own.
No Install, No Quota
Runs in the browser on any OS. Instant and uncapped, because a spec-parsed format costs nothing to convert.
Who Converts OFX to QFX
Your Bank Only Offers OFX
The common case. Smaller banks and credit unions skip the paid Intuit registration QFX requires.
Microsoft Money Exports
Money Plus Sunset writes OFX. Moving to Quicken means a folder of files it will not open.
Non-US Banks
Intuit’s registry is overwhelmingly American. A UK, Canadian, Australian or Indian bank rarely appears — Generic solves it.
Brokerage and 401(k)
Where QIF falls apart and QFX earns its place — trades, securities and prices survive as an investment register.
Rebuilding History
Years of archived OFX downloads into a fresh Quicken file. Convert as many as you like; import oldest first.
Bookkeepers, Mixed Clients
One client’s bank issues QFX, the next issues OFX. Convert the odd one out instead of buying a per-seat licence.
How to Import a QFX into Quicken
Two menu items sound right. Only one takes a QFX.
Quicken for Windows
File > File Import > Web Connect FileThe QFX lands in Downloaded Transactions for review. Link to an existing account, or create one.
Quicken for Mac
File > Import > Bank or Brokerage FileSame file, different wording. Mac asks which account as part of the flow.
Not this one
File > File Import > Quicken Transfer Format (.QXF)QXF moves a whole Quicken data file between installs. It sits beside the right item and catches people.
First time
File > Backup and RestoreBack up first. An import cannot be undone, and Intuit does not officially support third-party QFX files.
Banks That Give You OFX Instead of QFX
Any institution offering an OFX download works here. Which one you get depends on whether your bank pays Intuit.
No OFX left to convert
Bank of America ended all OFX services on 30 September 2025 — Quicken reports CC-885. Chase dropped Direct Connect in 2022.
If yours has stopped
Use CSV to QFX or PDF to QFX. Same Web Connect file at the end.
OFX to QFX Problems and Fixes
Quicken cannot verify the financial institution
Four causes — see the grid above. If you named your bank, switch back to Generic and convert again; that clears it most often.
The import dialog will not show my file
Wrong menu item. QFX goes through File > File Import > Web Connect File. A plain .ofx cannot be selected at all — Quicken cannot import OFX files.
Quicken wants a second account for the same card
It matches on institution ID plus account number. Use the same account number every month — masked is fine, inconsistent is not.
The institution name on screen is not my bank
Expected on Generic, and harmless. Quicken takes that label from INTU.BID. Rename the account; amounts and dates are unaffected.
CC-885, or the bank stopped downloads
That comes from the bank, not the file. Bank of America ended OFX on 30 September 2025 — use CSV to QFX instead.
Everything imported twice
QFX carries a FITID per transaction and Quicken uses it to spot repeats — so check which register they landed in before deleting anything.
My investment file imported as bank rows
Check the institution dropdown was showing investment providers. Intuit registers those separately; the list switches automatically when the statement is detected as one.
OFX to QFX — Frequently Asked Questions
Can Quicken open an OFX file?
No. Quicken imports QFX, QXF, QIF and CSV — its own support page states it cannot import OFX. It resolves the institution from an INTU.BID tag a plain OFX does not carry.
Is QFX the same as OFX?
Not quite. The difference between OFX and QFX is one tag: QFX is Intuit’s licensed dialect of OFX. Same structure, same transactions, plus one INTU.BID tag naming a bank Intuit has registered. Banks pay for that registration — which is why yours may offer OFX but not QFX.
Can I just rename .ofx to .qfx?
No. The tag Quicken reads is inside the file, not in its name. Renaming gives you the same "unable to verify the financial institution" error.
Which institution should I pick?
Generic, unless you also use Quicken’s online services for that account. We measured the trap: our Bank of America entry is a retired row in Quicken’s own directory, so picking it by name reproduces the exact error you are escaping. The picker is filtered to institutions Quicken registers.
Quicken still says "unable to verify the financial institution"
Four causes produce that one sentence: no INTU.BID (this tool fixes it), a BID Quicken rejects (switch to Generic), an expired Quicken subscription, or a bank that dropped Web Connect authorisation. The table above sorts them.
Does Intuit support QFX files from converters?
Officially no — and we would rather say so. In practice many people import them daily, and this produces a standard Web Connect file with a registered BID. Take a Quicken backup first; an import cannot be undone.
Is this OFX to QFX converter free?
Yes — no account, no transaction cap. MoneyThumb’s online tier starts at $24.95/month for five conversions; ProperSoft sells a desktop licence. OFX is read from its own spec here, so there is no AI cost to pass on.
Do I need Windows, or anything installed?
No. It runs in the browser on Windows, macOS, Linux and ChromeOS. Most OFX to QFX converters are Windows desktop programs, one of which installs Java on first run.
Why does Quicken want a second account for my card?
It matches a file to a register on the institution ID and account number together, so the number must be the same every month. The box above is pre-filled from your file and editable — a masked ****1483 is fine, as long as it is consistent. Quicken accepts 4 to 22 characters.
Will a brokerage or 401(k) OFX work?
Yes, and QFX is the right target — it is the only format here that keeps holdings, quantities and unit prices as a real investment register. The institution list switches to investment providers automatically, because Intuit registers those separately.
My bank stopped offering OFX and QFX
Bank of America ended all OFX services on 30 September 2025 (Quicken error CC-885) and exports CSV only. With no OFX left to convert, use CSV to QFX instead.
Is my data secure?
Encrypted in transit via TLS, parsed in memory, nothing kept afterwards. An OFX never goes near a model.
Other Quicken and OFX Converters
OFX to QBO
Convert OFX files to QBO for QuickBooks Desktop and Online. Ensures smooth import when QuickBooks prefers QBO over OFX. Free, instant, no signup required.
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Convert now →CSV to QFX
Convert CSV financial files to QFX for Quicken Web Connect import. Auto-detects columns and maps your data. Free, instant, no signup required.
Convert now →PDF to QFX
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