Export from Toad into Excel is not preserving the "new line" characters inside a field

I tested chr(13) || chr(10) before my first reply and it worked with the “Excel Instance” export option.

With the “Excel File” option - at first it looks like it doesn’t work, but then when I double-click a cell in Excel, the line feed suddenly appears.

I wonder if there is some setting in Excel that affects this.