QuickBooks Unable Verify Financial Institution

QuickBooks Unable Verify Financial

QuickBooks is one of the most preferred software when it comes to the management of accounts of an organization. Though the software is built with great expertise, sometimes you may encounter a few technical glitches, which can put the performance at a halt. But, you do not have to worry as we have got your back. We offer highly efficient QuickBooks support to help to overcome any QuickBooks technical battle like a champion.

Now, coming to the error which says QuickBooks is unable to verify financial institution. Basically, the moment you import a .QBO file in the QuickBooks accounting software, you can get a pop up with “QuickBooks is not able to verify the financial institution data for this download”.


Here are the possible causes of this error along with the solutions:

  • The copy of QuickBooks more than 3 years old. In this case, it won’t be able to import the .QBO files. The user will have to update to the latest or a new version, or he/she might try to go for the Bank2IIF or CSV2IIF converters, however, you have to choose this in relation to the file you have and import as IIF file instead of the QBO.
  • Either the bank or the credit card firm is no longer “acceptable” by QuickBooks. In this case, you would have to utilize the power of Bank-to-QBO to turn the QBO file into an “allowed” financial institution.
  • The .QBO file was not produced properly or “not prepared” for the QuickBooks version that you are using. Banks and credit card organizations make the .QBO files pretty differently. QBO files are basically the extended version of the OFX files, however, there a few very tiny but significant dissimilarities between QBO and the OFX files. The QBO file can follow OFX condition as well. However, it is not really apt for QuickBooks. Users will have to make use of the Bank2QBO to prepare the QBO file for the version of QuickBooks that you are using.
  • The .QBO file was generated either in the form of a CSV or Excel with the help of a third-party Program. In this case, make use of the CSV2QBO to reconstruct QBO file, which is conveniently importable by the QuickBooks software.


If the user gets stuck in the midway, then don’t forget to dial +1-800-961-6588 from your phone at any time of the day, afternoon, evening or night. We have got a bunch of superbly talented QuickBooks technical executives who are capable of resolving a wide variety of problems which are linked to the QuickBooks accounting software.

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