How to Convert Bank Statements to OFX Format
OFX (Open Financial Exchange) is the standard format that financial software uses to import bank transactions. Quicken, QuickBooks, GnuCash, Moneydance, and dozens of other tools all support it. If your bank doesn't offer OFX downloads (most don't), you need to convert from PDF.
What Is OFX?
OFX is an XML-based format designed specifically for financial data exchange. Unlike CSV, it includes metadata like account numbers, bank identifiers, statement date ranges, and transaction types (debit, credit, check, etc.).
QFX is Quicken's version of OFX. They're nearly identical. If your software asks for QFX, an OFX file will almost always work.
How to Convert
- Upload your bank statement PDF at statementpro.app
- The system detects your bank and extracts transactions
- Select OFX as the export format
- Download and import into your financial software
Importing OFX Files
Quicken
File > Import > Bank or Brokerage File (.ofx). Select the file, map it to the right account, and the transactions appear in your register.
QuickBooks Desktop
File > Import > Web Connect. Rename the .ofx file to .qfx if QuickBooks doesn't see it in the file picker. Pick the account and import.
GnuCash
File > Import > Import OFX/QFX. GnuCash has solid OFX support and will auto-match transactions to existing entries.
Moneydance
File > Import > OFX, QFX files. Select the file and map it to your account.
OFX vs CSV: When to Use Which
| OFX | CSV | |
|---|---|---|
| Best for | Quicken, QuickBooks Desktop, GnuCash | Excel, Google Sheets, QuickBooks Online, Xero |
| Includes metadata | Yes (account info, bank ID, date range) | No |
| Human-readable | Not really (it's XML) | Yes |
| Duplicate detection | Built-in transaction IDs | Manual |
Use OFX when your software prefers it (especially desktop apps). Use CSV when you want to look at the data in a spreadsheet first or when importing into web-based accounting tools.
FAQ
Can I get OFX files from my bank directly?
Some banks offer OFX/QFX downloads, but most only give you PDFs for full monthly statements. Check your bank's download options under Statements or Account Activity.
What's the difference between OFX and QFX?
QFX is Intuit's branded version of OFX with minor header differences. For practical purposes, they're interchangeable. Most software accepts both.
Do I need OFX for QuickBooks Online?
No. QuickBooks Online works fine with CSV imports and doesn't require OFX. If you want to skip files altogether, Statement Pro can push transactions directly to QuickBooks Online via API.
Is the conversion free?
Statement Pro's free tier includes 3 pages per month. That covers a typical single-month statement.