QIF stands for Quick Interchange Format. Files that contain the .qif file extension are text files that have been created by Quicken financial software applications. These files store information that pertains to a user's financial accounts and keep the data in the ASCII text format.
QIF files are used for transferring information from a financial institution's website to a user's computer and between different Quicken data files. While the QIF file format was originally developed by Intuit, it is now used by a variety of financial and accounting applications.
The QIF file format has become outdated and has been largely replaced by the QFX file format.
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