MT940 to QBO Converter
Convert a SWIFT MT940 statement into a QuickBooks Web Connect (.qbo) or .ofx file. Free, no signup, no size limit.
.sta, .mt940, .txt
Why MT940 needs conversion before QuickBooks
MT940 is a SWIFT text format built from tagged fields — :25: account, :60F:
opening balance, :61: statement lines, :86: free-text descriptions that often
wrap onto unlabelled continuation lines, and :62F: closing balance. QuickBooks has no MT940
importer; it expects OFX SGML in a .qbo wrapper with a valid financial institution ID. Banks
in Europe and Asia that still issue MT940 statements leave QuickBooks users to convert manually — or with
this tool, automatically.
Two MT940 quirks matter for a clean import: amounts use a decimal comma
(1200,50), which this converter normalises to a decimal point before it ever reaches the OFX
builder, and the debit/credit mark in :61: (C, D, plus reversal
codes RC/RD) is translated into the negative-for-debit sign OFX expects.
What gets built into the .qbo / .ofx file
- FITID from :61: references — each transaction's bank and customer reference feeds a unique FITID, so a re-imported file is recognised as a duplicate and skipped rather than doubled in your books.
- TRNTYPE mapping — the :86: description text is matched against keywords (wire, ACH, fee, interest, payroll) to choose the closest OFX transaction type.
- Continuation lines preserved — the full multi-line :86: text becomes the OFX <MEMO>, so nothing is truncated at the first line.
- <INTU.BID> caveat — QuickBooks Desktop only accepts a .qbo file when INTU.BID matches a financial institution it recognizes. If you don't have your bank's value, use the .ofx download instead, which has no such requirement and imports into Quicken, Xero, Wave, MoneyMoney and most accounting tools.
Example
:61:2507150715D1200,50NDDTREF67890//BANKREF002 :86:DIRECT DEBIT INSURANCE CONTINUATION LINE FOR INSURANCE
becomes an OFX <STMTTRN> with TRNAMT>-1200.50,
DTPOSTED>20250715, a FITID built from BANKREF002, and the full description —
including the continuation line — in <MEMO>.
Frequently asked questions
Is my file uploaded?
No. Everything, including OFX/QBO generation, runs in your browser. There is no server component — verify with your browser's network tab, or use the page fully offline.
Is MT940 still used, and does QBO conversion still make sense?
Yes — many banks still deliver MT940 alongside newer CAMT.053 XML, and MT940-only banks are still common outside the EU, so converting straight to QBO/OFX remains the fastest path into QuickBooks.
What happens to reversal entries (RC/RD)?
Reversal credit/debit marks are treated the same as their non-reversal counterparts for sign purposes, so a reversed debit still posts as a positive amount in the OFX output.
My .qbo file is rejected — what now?
Almost always the <INTU.BID> value. Try the .ofx download instead; it carries the same transactions without the financial-institution check that QuickBooks Desktop enforces.