How to download and use Transactions from Bank into Sage

SOLVED

My bank is Scotiabank and they offer downloads of Bank Account transactions. I would like to use the file from this so I can import it into Sage so that I don't have to manually enter all the transactions. Is this possible? Or is it a good idea? And, if so, how do you do it? The formats the bank offers are Quicken, QuickBooks, Excel, MS Money, Simply Accounting, ASCII, or QIF. 

I thought I read somewhere that this is available only for reconciling accounts but that's not my purpose here. I am just lazy and would like to avoid manual processing if possible.

Thanks