When importing a .qbo file from an approved financial institution in QuickBooks Mac, you get the following error.
Note: For Windows, refer to Troubleshoot Online Banking Webconnect import issues and errors
An example of invalid characters would be "&". By simply editing the QBO file in Text Edit and removing all instances of this, it can allow QuickBooks to properly import the file.
If there are formatting issues, please contact the financial institution for assistance. The financial institution provides the QBO download, and they need to be made aware of this. QuickBooks follows a set of OFX guidelines set by the OFX Consortium. If a financial institution does not adhere to these guidlines, QuickBooks will not be able to import those QBO downloads.
Important: Please make a backup before completing the steps outlined in this KB. QuickBooks needs to be closed while performing steps 1-3.