There have been a few posts recently about Quicken and .QIF files. Here is what I observe in Quicken Premiere 2006:
You can export .QIF files from any account you like. Importing is a different story:
You cannot import a .QIF file into any checking, savings, credit card, or brokerage account. For these files, you can only import from Turbo Tax or Web Connect. I don't know what importing from Turbo Tax is. Web Connect means a .QFX file. A .QFX file is a specialized form of a .OFX file. The specialization is a registration number whose sole purpose is to generate a royalty payment for Intuit.
Would someone please correct me if I am wrong: it appears that the only way to import data into a checking account is to use a .QFX file that a bank provides, after paying Intuit a royalty. If I want to create my own pile of data and import it into Quicken, I cannot do so.