Bank Statement Formats Explained (PDF, CSV, OFX, QBO)

Banks provide statements in multiple formats, each with different uses. Understanding these formats helps you choose the right one for your needs.

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Format Overview

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PDF Format

What It Is

PDF is a document format designed for viewing and printing. It preserves the visual layout of the statement. Learn more about why bank statement PDFs are hard to work with.

Structure

• Header with bank logo and account info
• Transaction tables
• Summary sections
• Footers with legal text

Advantages

• Looks exactly like paper statement
• Universal viewing (any PDF reader)
• Official document for records
• Good for audits and documentation

Disadvantages

• Data is not directly usable
• Requires conversion for analysis
• Tables may not copy/paste cleanly
• Multi-page handling can be tricky

When to Use

• Official records and archiving
• Sharing with auditors or lenders — see how to prepare bank statements for audit
• Visual review of statement
• When no other format available

Need to convert PDF to a usable format? See our bank statement converter guide.

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CSV Format

What It Is

CSV is a plain text format where values are separated by commas. Each line is a row, each comma-separated value is a column. For step-by-step instructions, see how to convert bank statements to Excel.

Structure

Date,Description,Amount,Balance
01/15/2026,DIRECT DEPOSIT,2500.00,3500.00
01/16/2026,AMAZON PURCHASE,-47.99,3452.01
01/17/2026,ATM WITHDRAWAL,-100.00,3352.01

Advantages

• Opens directly in Excel/Google Sheets
• Easy to manipulate and analyze
• Compatible with most software
• Small file size
• Human-readable

Disadvantages

• No standardized column names
• Date format varies
• May lack balance information
• Bank-specific variations
• No formatting or structure

When to Use

• Spreadsheet analysis — see how to reconcile bank statements in Excel
• Custom data processing
• Simple imports
• When you need to modify data

Also works with Google Sheets.

Variations

• TSV (Tab-Separated Values)
• Semicolon-separated (common in Europe)
• With or without headers
• Different date formats

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OFX Format

What It Is

OFX (Open Financial Exchange) is an XML-based standard for financial data exchange. It's designed for software-to-software communication.

Structure

<OFX>
  <BANKMSGSRSV1>
    <STMTTRNRS>
      <STMTRS>
        <BANKACCTFROM>
          <BANKID>123456789</BANKID>
          <ACCTID>1234567890</ACCTID>
        </BANKACCTFROM>
        <BANKTRANLIST>
          <STMTTRN>
            <TRNTYPE>DEBIT</TRNTYPE>
            <DTPOSTED>20260115</DTPOSTED>
            <TRNAMT>-47.99</TRNAMT>
            <NAME>AMAZON PURCHASE</NAME>
          </STMTTRN>
        </BANKTRANLIST>
        <LEDGERBAL>
          <BALAMT>3452.01</BALAMT>
        </LEDGERBAL>
      </STMTRS>
    </STMTTRNRS>
  </BANKMSGSRSV1>
</OFX>

Advantages

• Standardized format
• Includes account information
• Contains balance data
• Supported by most accounting software
• Self-describing structure

Disadvantages

• Not human-readable
• Can't open in basic spreadsheets
• Requires compatible software
• XML complexity

When to Use

• Importing to accounting software
• Automated processing
• Multi-software workflows
• When standardization needed

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QBO Format

What It Is

QBO (QuickBooks Online) is Intuit's format specifically designed for QuickBooks import.

Structure

Similar to OFX but optimized for QuickBooks:

OFXHEADER:100
DATA:OFXSGML
...
<STMTTRN>
<TRNTYPE>DEBIT
<DTPOSTED>20260115
<TRNAMT>-47.99
<FITID>2026011547990001
<NAME>AMAZON PURCHASE
</STMTTRN>

Advantages

• Native QuickBooks support
• Optimal import experience
• Includes transaction IDs for matching
• Prevents duplicates on re-import

Disadvantages

• QuickBooks-specific
• Not universally compatible
• Requires QuickBooks software

When to Use

• Importing to QuickBooks Desktop
• QuickBooks Online imports
• When bank provides this format

See our complete guide: How to import bank statements into QuickBooks.

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QFX Format

What It Is

QFX (Quicken Financial Exchange) is Intuit's format for Quicken personal finance software.

Advantages

• Native Quicken support
• Similar to OFX
• Good for personal finance tracking

Disadvantages

• Quicken-specific
• May not work in QuickBooks
• Limited software support

When to Use

• Importing to Quicken
• Personal finance management

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MT940 Format

What It Is

MT940 is a SWIFT (Society for Worldwide Interbank Financial Telecommunication) standard for bank statement messages. Common in business and international banking.

Structure

:20:STMT123456
:25:123456789/12345678
:28C:00001/001
:60F:C260115USD3500,00
:61:2601150115D47,99NTRFAMZN//AMAZON
:62F:C260116USD3452,01

Advantages

• International standard
• Detailed transaction information
• Business banking standard
• Highly structured

Disadvantages

• Not consumer-friendly
• Complex format
• Requires specialized software
• Primarily for business use

When to Use

• Business banking
• International transactions
• ERP system imports
• Corporate treasury

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Format Comparison

For Different Use Cases

Data Completeness

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Converting Between Formats

PDF to CSV

Use a bank statement converter to extract data from PDF into spreadsheet format. See also: Convert PDF bank statements to CSV online.

CSV to OFX

Some tools convert CSV to OFX for accounting software import.

Any to CSV

Most formats can be converted to CSV for universal compatibility.

Conversion Considerations

• Data loss may occur (formatting, structure)
• Date format changes
• Amount sign conventions
• Column mapping required

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Choosing the Right Format

Ask These Questions

1. What software will receive the data?

   • QuickBooks → QBO or OFX
   • Excel → CSV
   • Archive → PDF

2. Do you need to manipulate the data?

   • Yes → CSV
   • No → Use native format

3. Is standardization important?

   • Yes → OFX
   • No → Whatever's available

4. What does your bank provide?

   • Start with available options
   • Convert if needed

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Summary

Bank statements come in multiple formats serving different purposes. PDF is for viewing and records, CSV is for spreadsheets and analysis, OFX is the universal accounting standard, and QBO/QFX are software-specific formats. Choose based on your destination software and whether you need to manipulate the data. When your bank doesn't provide the format you need, conversion tools can transform PDFs into usable CSV, OFX, or QBO files.

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Related Guides

Fundamentals

• What is a bank statement?
• What is bank statement parsing?
• What is OCR for bank statements?

Conversion Tutorials

• Bank statement converter: PDF to Excel
• How to convert PDF bank statement to Excel
• How to convert scanned bank statements to CSV
• How to handle multi-page bank statements

Bank-Specific Guides

• How to convert Chase bank statement to Excel
• How to convert Bank of America statement to CSV
• How to convert Wells Fargo statement to Excel

Software Integration

• How to import bank statements into QuickBooks
• How to reconcile bank statements in Excel

For Professionals

• How accountants process multiple bank statements
• How bookkeepers automate bank reconciliation