Bank statement formats: PDF vs CSV vs OFX (and which to use)

The short answer: which format to use

Pick the format by where the data is going. This table covers the common cases.

You want to…	Use	Why
Read, print or keep a record	PDF	It’s the official statement, with the bank’s layout and balances
Work in Excel	Excel (.xlsx)	Sort, filter, total and format the rows in a workbook
Share with a bookkeeper or team	Google Sheets	One live copy, no email attachments
Import into Xero, Wave, Zoho Books, Sage or FreshBooks	CSV	Every one of them has a CSV importer
Import into QuickBooks Online	CSV (or QBO if your bank offers it)	CSV works for any bank and any period
Import into Quicken	QFX	Quicken checks the Intuit fields in QFX
Use an old desktop tool that only reads QIF	QIF	Last resort; it carries little detail

If you’re unsure, choose CSV. You can open it, fix it and import it almost anywhere.

All seven formats compared

Each format makes a different trade-off between being readable by people and readable by software. Here they are side by side.

Format	Extension	What it is	Opens in Excel/Sheets	Imports into accounting software	Duplicate protection	Who provides it
PDF	.pdf	A printed page, fixed layout	No (needs converting)	Rarely	No	Every bank, every month
CSV	.csv	Plain text table, one row per transaction	Yes	Yes, with column mapping	No	Many banks for recent activity; converters for any period
Excel	.xlsx	Spreadsheet with typed cells	Yes	Rarely directly; save as CSV first	No	Some banks; converters
OFX	.ofx	Structured text with fixed fields and a unique ID per transaction	No (shows raw tags)	Yes, no mapping	Yes, via FITID	Many banks for recent activity
QFX	.qfx	OFX plus Intuit fields	No	Quicken	Yes	US banks that support Quicken
QBO	.qbo	OFX plus Intuit fields	No	QuickBooks (Web Connect)	Yes	US banks that support QuickBooks
QIF	.qif	Older plain text format from Quicken	No	Some tools, often legacy	No	Few banks now

Information most comparisons miss: OFX, QFX and QBO are the same structure underneath. The difference is a few header fields, such as Intuit’s INTU.BID, that Quicken and QuickBooks check before they accept the file. That’s why renaming a .ofx file to .qfx often fails.

PDF: the official record

A PDF statement is what the bank sends every month. It’s the document an auditor, lender or tax office expects.

• Strengths: complete history, the bank’s own opening and closing balances, accepted as proof.
• Weakness: the transactions are positioned text on a page, not data. You can’t sort, total or import them without extracting them.
• Use it for: archiving, loan or visa applications, and as the source you convert from.

PDFs are also the only format for older periods. Banks keep monthly statements for years, while transaction downloads usually cover only recent activity.

CSV: the universal import format

A CSV is a plain text table. Each line is a transaction, and commas separate the fields.

Date,Description,Amount,Balance
2026-09-03,Gusto payroll,-4120.00,18322.45
2026-09-05,Client payment INV-1042,3500.00,21822.45

• Strengths: every spreadsheet and almost every accounting tool reads it. You can check and fix it in a spreadsheet before importing.
• Weaknesses: no fixed column names, so you map columns on import. Date order (DD/MM vs MM/DD) and signs depend on the source.
• Use it for: importing into Xero, Wave, Zoho Books and QuickBooks, and for scripts.

To turn a PDF into CSV, use bank statement to CSV.

Excel (.xlsx): for working in a spreadsheet

An Excel file holds the same rows as a CSV, but each cell has a type. Dates stay dates and amounts stay numbers.

• Strengths: no reformatting when you open it. Sort, filter, pivot and total straight away. Several months can live on separate sheets.
• Weakness: most accounting importers don’t take .xlsx. Save a copy as CSV for importing.
• Use it for: reconciliations, tax prep, expense reviews and audit workpapers.

Convert with bank statement to Excel. If several people need the data, send it to Google Sheets instead and share one link.

OFX: built for accounting software

OFX (Open Financial Exchange) is a standard file that carries account details and transactions with fixed field names. Each transaction has a unique ID, called FITID.

• Strengths: no column mapping. Software remembers each FITID, so importing an overlapping file doesn’t create duplicates.
• Weaknesses: not readable as a table. Banks only offer it for recent activity.
• Use it for: QuickBooks, Xero, Sage, GnuCash and Moneydance imports when your bank offers it.

For the full field list, see what is an OFX file. To get OFX from a PDF statement, use bank statement to OFX. If you already have a CSV, the free CSV to OFX tool converts it in your browser.

QFX and QBO: Intuit’s versions of OFX

QFX and QBO are OFX files with extra Intuit fields. Quicken reads QFX; QuickBooks Web Connect reads QBO.

• Your bank must support Quicken or QuickBooks for its QFX or QBO files to be accepted, because the file carries the bank’s Intuit ID.
• Look for “Quicken” or “QuickBooks” in the bank’s download menu, next to CSV.
• If your bank doesn’t offer QBO, QuickBooks Online also imports CSV. That works for any bank and any period.

QIF: the legacy format

QIF (Quicken Interchange Format) predates OFX. It’s plain text with one line per field.

• It has no unique transaction ID, so duplicates are easy to create.
• Date formats vary by region and software version, which causes misread dates.
• Use it only when an older tool accepts nothing else. Otherwise choose CSV or OFX.

How to get the format you need

Start from what the bank gives you, then convert. The right path depends on the period you need.

1. Recent months, supported bank: download CSV, OFX, QFX or QBO from the bank’s transaction download (often under “Download” or “Export” on the account page).
2. Older months, or a bank with PDF only: download the monthly PDF statements and convert them to CSV, Excel, Google Sheets, OFX or QFX.
3. Need OFX from a CSV you already have: run it through the free CSV to OFX tool.

Whatever the route, check the result. The row count should match the statement, and opening balance plus the total of the Amount column should equal the closing balance.