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Frequently Asked Questions

Q: What is happening to QIF Import?
A: Beginning with Quicken 2005 for Windows, QIF Import will no longer be available for most account types. Click here to see which accounts will be affected by this change.

Q: What versions will be affected when QIF Data Import is no longer available?
A:

  • Quicken 2005 for Windows and later will no longer allow QIF Data Import for most account types.
  • Quicken 2004 for Windows and earlier will continue to accept QIF Data Imports.
  • Quicken 2005 for Macintosh and earlier will continue to accept QIF Data Imports.
  • QuickBooks and TurboTax will not be affected.
  • Check to see if the QIF changes impact you.

Q: Will QIF Data Import be available for any accounts?
A: QIF Import will continue to be available for accounts where a download solution via OFX is not available. Such instances include:

  • Credit Card accounts (available in Quicken until Quicken 2006 for Windows)
  • Asset accounts
  • Liability accounts
  • Cash accounts
  • Small business payable accounts
  • Invoice accounts from Financial Institutions

Q: What is Open Financial Exchange (OFX)?
A: Open Financial Exchange (OFX), is the industry standard for consumer and small business online banking, bill payment, bill presentment, investment transaction download and 401(k) account access. Today more than 2,700 Financial Institutions support download into Quicken via OFX. OFX offers greater integrity of data and enhanced features and functionality. Moving to OFX will enable customers and Financial Institutions to take advantage of new product features that permit 401(k) download, easier account set-up, and more.

Financial Institutions can visit fi.intuit.com for more information on OFX. Quicken users can learn more about OFX at the Intuit Support site.

Q: What accounts are moving exclusively to download via OFX in Quicken 2005 for Windows?
A: Checking, Savings, 401(k) and all other Brokerage accounts.

Q: What additional accounts are moving exclusively to download via OFX in Quicken 2006 for Windows?
A: Credit Card accounts.

Q: Why move from QIF to OFX download?
A: Intuit wants customers to have the best possible download experience as well as support the transition to OFX. OFX connectivity offers an easier, quicker setup and download than QIF. With OFX download:

  • There is no need for manual account setup. Quicken goes online first to setup all the accounts you have at that Financial Institution.
  • Quicken provides financial institution specific instructions to get your user ID and PIN.
  • Quicken automatically sets up your account with an opening balance, there is no need to use paper statements.
  • Quicken automatically downloads and categorizes your data in the background.
  • In most cases, the date range for new transactions is selected automatically.
  • The Financial Institution and Quicken accounts are automatically linked after the first download session.
  • Customer support is available.
  • Quicken will automatically start when you begin an OFX Web connect session.

Some of the limitations with QIF include the following:

  • QIF was never designed to be a transaction download standard, it was designed for technical support purposes.
  • QIF Import can lead to duplicate transactions.
  • QIF Import requires a multiple step process for data import.
  • QIF does not allow Quicken to automatically set up accounts within Quicken.
  • QIF is not supported by Intuit technical support.

Q: How do I know if my Financial Institution supports download into Quicken via OFX?
A: See if you can find your Financial Institution on the list of Financial Institutions that support OFX.

If you do not find your Financial Institution on the list, confirm that you have the correct Financial Institution name associated with each account. If your Financial Institution has recently acquired another company or been acquired they may have changed their name and this change may not be reflected in your Quicken register.

Q: How do I make sure I have the correct Financial Institution shown in my Quicken register?
A: You can confirm the Financial Institution name by clicking on the Account Overview tab in Quicken and then Edit Account Details. See the screenshots below for details:

Screen Shot

Screen Shot

Q: What do I do if my bank does not offer download via OFX?
A: If you do not find your bank or brokerage house in the list, check your Financial Institution web site to find out if they are planning to move to OFX in the future. You can also call or write to your Financial Institution to let them know you would like to download into Quicken via OFX and would like to know more about their plans for providing this better download method for their customers.

You may consider moving to a Financial Institution that supports direct download via OFX. Please check the FI list for Financial Institutions that support OFX.

You can also remain on your current version of Quicken until your Financial Institution supports OFX and periodically check to see if your Financial Institution has started offering download into Quicken via OFX.

If you have already purchased Quicken 2006 for Windows and wish to return it, you can return the product within 60 days of purchase for a full refund. Click here for more information on product returns. More information on returning to your previous version of Quicken can be found on our support site.

Q: How do I know I am using QIF?
A: You're most likely using QIF, if you begin your data imports with the following steps in Quicken: (1) Click on File menu, (2) Point to Import, and (3) Select QIF file.

Q: How do I switch from using QIF to download via OFX?
A: Quicken customers should check to make sure their bank, credit card or brokerage house supports download into Quicken via OFX. Once you find your participating Financial Institution, click on the "Set Up Download" at the bottom of your Quicken account register for this Financial Institution and follow the instructions.

Q: Since Intuit's customer support center uses QIF to import customers' data files - how will you get this information from customers if you discontinue the ability to import QIF?
A: While QIF technology is becoming obsolete and does not offer the accuracy and speed of download via OFX, there are still a handful of circumstances that make QIF Data Import the only way to convert or fix your data. For these limited customer support circumstances we want to make sure that we leave QIF Data Import available.

Q: Why is Intuit doing this?
A: OFX enables us to offer customers an easier, faster and more accurate download experience. It has enabled the Quicken team to create great new features like Express Setup in Quicken 2004 for Windows that revolutionize the way that customers set up and download data into Quicken. OFX is the industry standard for transaction download and Intuit is committed to helping the industry transition to Open Financial Exchange (OFX). OFX was introduced in 1997 and Quicken has supported OFX since the release of Quicken 98.

Q: How does this impact you if you are exporting data from Quicken?
A: Customers exporting data from Quicken to other applications are not affected by this change at this time.

Q: How can I contact Intuit with comments about downloading?
A: If you would like to send feedback or suggestions that you think would be helpful for improving the products or user experience, please submit them at Quicken.com. We may not be able to personally respond to all submissions, but be assured that they will be read and passed along to the appropriate product managers for consideration.

Q: What if I am using Quicken Bill Pay? Do the changes related to QIF impact me?
A: If you started using Quicken Bill Pay with Quicken for Windows 2005 or later, Quicken Bill Pay already uses OFX to download transactions. If you were using Quicken Bill Pay with Quicken for Windows 2004 or earlier, you should have received complete details and instructions about a Quicken Bill Pay upgrade (including a free copy of Quicken 2005) starting in August 2004. After you install Quicken 2005 or later and complete the upgrade, you will no longer be able to download QIF data. If you want to continue using QIF, do not install the Quicken 2005 or later and your Quicken Bill Pay service will remain unchanged. For more information, visit the Quicken Bill Pay support web site.

Q: What if I am using Quicken Credit Card? Do the changes related to QIF impact me?
A: If you use Quicken Credit Card to download your transactions into Quicken, you are not affected by these changes, as your downloads are supported by OFX.

Q: Will my Financial Institution charge fees for OFX download?
A: Financial Institutions determine what - if any - fees will be charged for download into Quicken via OFX. Contact your Financial Institution and ask them if they charge fees for download into Quicken. When you call, be sure to explain that you want to download into Quicken and would like to understand if there are any costs for doing so.

Q: Why does Intuit charge financial institutions a fee to connect to Quicken?
A: Intuit charges a fee to financial institutions to connect to Quicken via Open Financial Exchange (OFX) because Intuit products, like Quicken, are uniquely positioned to provide financial institutions with a better way to attract, retain and serve their customers by offering a more valuable service. This small fee enables Intuit to offset costs, offer connectivity to more financial institutions, and continue to develop better products and services using the faster, easier and more accurate OFX method.

Q: Does Intuit charge all financial institutions the same fee to connect Quicken?
A: Intuit offers various pricing options for connectivity based on the size of institutions customer base. Smaller banks pay less than larger banks.

Q: Does Intuit require banks to charge their customers for connectivity?
A: Absolutely not. Intuit does not mandate that financial institutions charge their customers for OFX connectivity with Quicken. In fact, many financial institutions offer this service free of charge to their customers.

Q: How many financial institutions connect to Quicken?
A: Today, Quicken connects with over 2,700 financial institutions via Open Financial Exchange (OFX) serving millions of customers. What this means is that financial institutions are seeing the benefit of providing their customers the ability to download data faster, easier and more accurately into Quicken via the industry standard OFX format. This also means that Intuitís flexibility in pricing is making it easier and easier for FIs of all sizes to connect to Quicken.

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