A free alternative to ProperConvert and MoneyThumb
If you are converting bank statements into a .QBO file for QuickBooks, the two names you will meet first are ProperConvert (ProperSoft) and MoneyThumb. Both are real, established products and both cost money. QBOKit does the same core job free, in a browser tab. This page is the comparison, including the cases where paying is the better answer — because a comparison that only flatters us is not worth your time.
🔒 Convert a statement now — CSV, Excel or PDF in, .QBO, OFX, QIF, IIF or clean CSV out. Free, in your browser, nothing uploaded.
What each one costs
| Tool | Price | Runs as |
|---|---|---|
| QBOKit | Free. No account, no card, no file limit. | A web page. Nothing to install. |
| ProperConvert (ProperSoft) | From $19.99/month, or $179/year. Team plans $49.98/month or $449/year. Free trial. | An application you download and run. |
| MoneyThumb | Its 2qfx Convert Pro+ listing shows lifetime licences (Pro+ and Pro) and a 50-day Express. We could not find a published converter price, so we are not quoting one. | An application. The PDF+ add-on is described on their site as “currently Windows only”. |
Prices checked 31 October 2026, taken from each vendor's own pricing page — both are linked under Sources so you can confirm them. Prices change; if you find a difference, tell us and we will correct this page.
One thing to know before you compare: privacy is not the differentiator
Every tool here processes your statement on your own machine. ProperConvert's own page says it converts “privately (no cloud upload), on your computer” and describes itself as “no cloud since 2008”. QBOKit runs entirely in your browser, so the file never leaves the device either.
So if you were choosing on privacy alone, all of these pass. The real differences are price, installation, and what happens when something goes wrong.
What is actually different
QBOKit: free, and nothing to install
It is a web page. It works on a Mac, a Windows machine, a Chromebook or a locked-down work laptop where you cannot install software. There is no account and no trial clock. It reads CSV, TSV, TXT, Excel .xlsx, PDF and existing .QBO/.OFX/.QFX files, and writes .QBO, .OFX, .QIF, .IIF, a cleaned CSV or a spreadsheet CSV.
Two specifics that matter for QuickBooks in particular: it fills in the bank's FID and INTU.BID from Intuit's own published institution directory, which is what clears the “cannot verify the financial institution” refusal; and it can re-stamp transaction ids, so a statement QuickBooks has already accepted will import again instead of being skipped in silence.
ProperConvert: a paid desktop app with support behind it
It has been sold since 2008, its site shows a 4.8/5 rating, the plans include “always free updates”, and the Team tier lists “Premium Support”. That is a company you can write to with an invoice number and an expectation of an answer.
MoneyThumb: increasingly a lender product
Worth knowing if you are evaluating it in 2026: MoneyThumb's site now leads with lending. Its homepage title is “Financial File Converters for Lenders” and the top of the site addresses merchant cash advance providers, small business lenders and mortgage lenders, offering underwriting scorecards and fraud analysis; its published pricing page is for an “Embedded Fraud Detection API” starting at $599.95 per year. The file converters still exist and are listed on that homepage — QuickBooks converters, converters for accounting and spreadsheets, converters for Quicken, and the PDF+ add-on. But if you are a bookkeeper looking for a .QBO converter, you are no longer their headline customer.
When you should pay instead
Honest answer, and these are real reasons:
- You need someone accountable. QBOKit is free and has one address — hello@qbokit.com — and no support contract, no SLA and no phone number. A paid licence buys you a counterparty.
- You convert statements all day, every day. A desktop application built for repetition will beat a browser tab on a heavy, repeated workflow, and it keeps working with no internet connection at all.
- You need something QBOKit does not do. We do not do bookkeeping, categorisation, lender scorecards or an API. If your requirement is on that list, the paid tools are not the expensive option — they are the only option.
- You want a long track record. ProperConvert has been shipping since 2008. QBOKit is new, and you should weigh that.
The sensible way to decide
Converting one statement takes about a minute and costs nothing, so there is no reason to decide this in the abstract: run your own awkward statement through the free converter first. If the output imports cleanly, you have your answer. If it does not, tell us which bank and what went wrong — please do not send the statement itself — and then go and buy the tool that handles it. Either way you will have spent a minute instead of a subscription.
Sources
- ProperConvert pricing — ProperSoft, for the $19.99/month, $179/year, $49.98/month and $449/year figures, the free trial, free updates and Premium Support. Checked 31 October 2026.
- ProperConvert home — ProperSoft, for “privately (no cloud upload), on your computer”, “no cloud since 2008” and the 4.8/5 rating. Checked 31 October 2026.
- MoneyThumb home — for the “Financial File Converters for Lenders” positioning, the converter product list, the PDF+ “currently Windows only” note and the Pro+ / Pro / Express licence tiers. Checked 31 October 2026.
- MoneyThumb pricing — for the “Embedded Fraud Detection API” pricing from $599.95 per year. This is their lender API, not a converter price. Checked 31 October 2026.
QBOKit is not affiliated with ProperSoft, MoneyThumb, Intuit or QuickBooks. Product names belong to their owners and are used here to identify the products being compared.