Forum Question: Best format: OFX, QIF, CSV? Best? iBank, Quicken, etc?

My bank can export in OFX, QIF, or CSV? Which format is the most widely used, and which is best? I don’t use personal finance software yet and it seems funny to choose a program based on format, but I don’t want my data tied up in a format with limited access in the future, like word processing files stuck in a WordPerfect file format.

With that said, I read Quicken for PC is good, but their version for Mac is bad. One common alternative is iBank, is it good, and full featured? I have some money in Euros so a program that handles more than one curreny and int’l banks would be a bonus. What are other programs to consider?

Thanks!

— Royce

Comments: 4 Responses to “Best format: OFX, QIF, CSV? Best? iBank, Quicken, etc?”

    9/7/10 @ 9:04 pm

    I haven’t looked at many of these, so I can’t tell you too much. If I were to go with personal finance software it wouldn’t be software, though — it would be an online service. That seems to make more sense than old-fashioned software.

    Royce
    9/8/10 @ 8:57 am

    Oh, why an online service versus software, because you can access your data anywhere with a browser? But it would have less features than software. Don’t know any online service other than Mint.

      9/8/10 @ 9:00 am

      Handling data like this should be just as good on the Web as it is in an application. And the developers can fix and update more often on the Web. Plus you’d have access to the data anywhere — like if you have a desktop and a laptop. Or a computer at work and at home.
      Mint is one of the sites out there and I think there are more at this point.

    Royce
    9/8/10 @ 10:14 pm

    Read that OFX is the best format. QIF is Quicken based and a format Quicken doesn’t fully support anymore. CSV, I learned is simply a format for Excel.

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