Free OFX to IIF Converter — Import OFX into QuickBooks Desktop
OFX (Open Financial Exchange) files contain the same bank transaction data as .qbo files but in a slightly different XML structure. Since Intuit discontinued Web Connect for QB Desktop 2020, 2021, and 2022, neither .ofx nor .qbo files can be imported directly. The solution: convert your .ofx file to .iif format using this free converter, then import via File → Utilities → Import → IIF Files. Works with all QuickBooks Desktop versions.
Quick Start
Upload your .ofx file → download a .iif file → import into QuickBooks Desktop via File → Utilities → Import → IIF Files. Free, no software needed.
What Is an OFX File?
OFX (Open Financial Exchange) is a bank transaction format used by many US and international banks as an alternative to .qbo. Both formats contain the same data — transaction dates, amounts, and payee names — but in slightly different XML structures.
Like .qbo files, OFX imports relied on Web Connect — a connection layer Intuit has phased out for QB Desktop 2020, 2021, and 2022. Even if your bank still provides .ofx downloads, QuickBooks now rejects them.
How to Convert OFX to IIF
- Download the .ofx file from your bank (sometimes labeled as "OFX" or "Microsoft Money" format in your bank's export options)
- Upload it to the converter above
- Download the converted .iif file
- Import in QuickBooks: File → Utilities → Import → IIF Files
OFX vs QBO — What's the Difference?
Both work identically with this converter. QBO is Intuit's proprietary variant of OFX with minor differences in the header. If your bank offers both, either will work. For more about the IIF output format, see our guide: QuickBooks IIF Import Format Explained.
Convert Your File Free →Frequently Asked Questions
My bank only offers OFX, not QBO. Can I still use this?
Yes. The converter accepts both .ofx and .qbo files and produces the same .iif output for both.
What banks provide OFX files?
Most major US banks offer OFX downloads, often labeled as "Microsoft Money" or "OFX/QFX" format in the transaction export options.
Does the OFX to IIF conversion preserve all transaction data?
Yes. Dates, amounts, payee names, and memo fields are all carried over to the IIF output.
Which QuickBooks Desktop versions does this work with?
All versions: QB Desktop 2016 through the latest. IIF import has been supported in QuickBooks Desktop for over 20 years.
Software Developer & AI Engineer based in Japan
Kenta built QBOConverter after encountering this exact QuickBooks error while supporting a client. He writes about practical fixes for accounting software edge cases.