How to use Bank2QFX (version 3)

This tutorial shows how to convert a transaction file to QFX format. We will use Bank2QFX utility. IMPORTANT: Bank2QFX is now replaced with the Transactions app, which converts from more formats and converts to more formats. For the latest version of Bank2QFX tutorial, visit this page.

Step by step instructions for Windows

Follow the steps below for the Windows version, followed by the Mac version.

Make sure you are using the latest version of Bank2QFX. Download it from the Bank2QFX download page. Start Bank2QFX and select the transaction file (it could be QBO file, OFX file, QFX file, QIF file, PDF file, MT940 file or STA).Review transactions before converting, check that dates are correct, have the correct year, deposits and withdrawals are assigned correctly. 

Select the QFX target to match your Quicken version or your accounting software: Regular QFX, Quicken 2018+, Quicken 2017, Quicken 2016, YNAB.  

Set the Account ID (number) and the Account Type to create QFX for the right account. For multiple accounts, use a different Account ID for each account.  

For Quicken, set INTU.BID to match your bank or keep the default value. The INTU.BID value defines the bank label shown during import. It has to be from the allowed bank. You can try to locate your bank, make sure a bank you choose supports the account type you are converting for. You have to leave it empty if your bank is not listed, so the default - Wells Fargo Bank Label will be used.  

Currency should be USD even for non-USD accounts for Quicken US edition. For the Canadian edition, you can use USD and CAD. And for the UK edition, GBP currency must be set. 

Click the 'Convert' button to create a QFX file.  

Confirm the file name and location. 

Import created QFX file into Quicken

Now the QFX file is created, let's switch to Quicken and import created QFX file. file. Before importing the QFX file make sure that the account is not connected to online services. Click 'Tools' - 'Account List'.We have to disconnect from online services first. Click 'Edit'. 

Then click 'Online Services' and click on the 'Deactivate' button. Then click 'Yes' and 'Ok'. 

Before importing a QFX file make sure to backup your data. To import a QFX file, select 'File' - 'File Import' - 'Web Connect (.QFX) File', select created QFX.  

Import into a new account or existing account. Then click the 'Import' button.  

Then click the 'Close' button.  

All transactions are imported here, they showed in the bottom part. You can review transactions and use Renaming Rules if you like. Then click 'Accept All transactions'.  

They accepted and listed in Quicken. 

Step by step instructions for macOS

Make sure you are using the latest version of Bank2QFX. Download it from the Bank2QFX download page. Start Bank2QFX and select the transaction file (it could be QBO file, OFX file, QFX file, QIF file, PDF file, MT940 file or STA). IMPORTANT: Bank2QFX is now replaced with the Transactions app, which converts from more formats and converts to more formats.

Review transactions before converting. Check that dates are correct, have the correct year (Date), amount, withdrawals and deposits are shown in corresponding columns, check number (Doc/Check#) is assigned. 

Make sure to set the Account ID (number) to be digits only. If you convert for one account, you can leave the default value. If you convert for multiple accounts, use the different Account ID for each account. Make sure to set the Account Type (if you are converting for Credit Card - set 'CREDITCARD' if you are converting for Checking - set 'CHECKING'). 

Currency should be USD even for non-USD accounts for Quicken US edition. For the Canadian edition, you can use USD and CAD. And for the UK edition, GBP currency must be set. 

You have to set INTU.BID number to match your bank or use a default value. The INTU.BID value defines the bank label shown during import. It has to be from the allowed bank. You can try to locate your bank, make sure a bank you choose supports the account type you are converting for. Keep the default value if your bank is not listed (3000-Wells Fargo or any allowed bank).  

Click the 'Convert' button to create a QFX file.  

Confirm the file name and location. 

Import created QFX file into Quicken

Now the QFX file is created, let's switch to Quicken and import created QFX file. Before importing the QFX file make sure that the account is not connected to online services. Right-click - 'Edit' account. If you see, for example, Connection Type (Web Connect), it means that it is connected. We have to disconnect from online services first. Click on 'Set up transaction download'. 

Then click the 'Options' button. 

Select 'Enter transactions manually' and click the 'Continue' button.

Click the 'Finish' button. This way you disconnect from direct online download and now you can import a QFX file into this account.  

Before importing a QFX file go to settings, click 'Preferences'. 

Then click 'Connected Services'. 

And uncheck 'Automatically improve the quality of downloaded payee names and categories'. Because it could change your Payee names and assign categories, that are not applicable. 

In Quicken, backup your data file before importing. To import a QFX file, select 'File' - 'Import' - 'Bank or Brokerage File (OFX, QFX)', select created QFX file.  

And select an existing account to import transactions instead 'Add a new Quicken account'. Click the 'Continue' button. 

Now your transactions are imported. You can categorize, review, delete them. They are already inside Quicken.