What are deposit methods?
A deposit method is a reusable payment option that stores the details investors need to complete their payment. Once created, deposit methods can be attached to one or more capital raises.
Caruso supports three types of deposit methods:
Bank Transfer — standard bank transfer instructions
Cheque — postal instructions for cheque payments
BPAY — for Australian fund managers using BPAY to collect capital
Prerequisites
You must have Admin access to the Caruso Admin App
For BPAY deposit methods, you will need your BPAY biller code
Step 1: Create a deposit method
In the navigation pane, select Settings then Configuration
Click Deposit tab
Click Add deposit method
Select the deposit method type (Bank Transfer, Cheque, or BPAY)
Complete the required fields for your chosen type
Click Save
Bank Transfer fields
Deposit method name — an internal label to identify this method
Bank account name — the recipient account name investors will see
Account identifiers — BSB and account number (AU), account number (NZ), IBAN or SWIFT/BIC (EU/UK), or routing number and account number (US)
Cheque fields
Payable to — the legal entity name investors should write on the cheque
Mailing address — the postal address where cheques should be sent
BPAY fields
BPAY biller code — you must use the MOD10V05 check digit algorithm
Note: For BPAY, Caruso automatically generates a Customer Reference Number (CRN) for each investing entity if one does not already exist.
Step 2: Attach deposit methods to a capital raise
Navigate to the relevant Capital Raise
Open the Deposit tab
Click Add deposit method
Select one or more existing deposit methods, or create a new one
Reorder the methods if needed — the order here controls how payment options appear to investors
Click Save
Tip: You can attach multiple deposit methods to a single capital raise. For example, you might offer both bank transfer and BPAY as payment options.
Where deposit methods appear
Once attached to a capital raise, deposit methods are displayed on:
Application payment notices — for fully funded applications
Capital call notices (PDF) — including bank transfer details, BPAY information, or cheque instructions
Capital call emails — so investors see complete payment options directly in their inbox
Welcome letters and capital raise template emails — where configured
The payment options appear in the order you set when attaching them to the capital raise.
Best practices
Create deposit methods at the tenant level so they can be reused across multiple capital raises
Use clear, descriptive names for deposit methods to make them easy to identify
Always attach at least one deposit method to a capital raise before generating notices or emails
Review the order of attached methods to ensure the most common payment option appears first
Tips and notes
If a capital raise has no attached deposit methods, Caruso will display an error when you try to generate capital call notices or emails
For Australian accounts, BSB codes are validated automatically. You can override and save even if validation fails
BPAY payments are not currently auto-reconciled in Deposit Reconciliation. Contact your Customer Success representative for manual BPAY data transformation options
Related articles
If you have any questions or need help at any stage, please contact our Caruso Support team either by email or live chat.