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Distribution and Redemption Payment Packs

Caruso bundles distribution or redemption payment files into a single downloadable payment pack.

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Written by Lana Kamffer

Cut-over Impact
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Australian payers

Before running your next distribution or redemption payment, please update your existing Australian fund bank accounts. Direct Entry User ID and Name, previously entered in the file converter each time, are now stored on the bank account itself. If these details are missing, you'll see an error when downloading an ABA file.

New Zealand payers

No change is needed to your workflow. However, when converting payments into the required NZ bank format, you may find it easier to use the per-account CSVs included in the payment pack zip file, rather than the combined 'all' CSV.

When you create a distribution or redemption batch, Caruso generates the payment files you need to actually move money — bank-ready ABA files for Australian-to-Australian payments, CSVs for everything else, and a full audit CSV covering every payment in the batch. This article walks through what's produced, how to download it, and how to process each file.

Where to download

Open the distribution or redemption batch detail view and use the report downloads dropdown. Two distinct downloads are available on both Draft and Confirmed batches:

Download

What it contains

All Payments CSV

Every payment in the batch as a single CSV.
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​Note: This includes payees with no bank account on file (blank bank fields). A draft distribution will be blocked from confirming until all payees have a bank account.

Payment Pack ZIP

Payment files are grouped by outgoing bank account, ready to upload or convert. Depending on how your outgoing bank accounts are set up (for example whether all classes share one payer account or not), the ZIP contains:

  • Payment File CSV - one per outgoing bank account, containing payments where the payer and payee are in the same country

    • ABA Payments - Where the payer and payee bank accounts are both in Australia, an ABA file sits alongside that account's payment file CSV. Both contain the same payments row for row, so you can open the CSV to review what the ABA will pay without opening the ABA itself. .

  • International Payments CSV - a single CSV containing every payment where the payer and payee are in different countries across all outgoing bank accounts.

Note:

  • All payments are per holding (i.e. if an entity has multiple holdings in the fund, they will receive multiple payments that reconcile with values shown on statements and the investor portal)

  • Only process payments from a Confirmed batch. Draft amounts may still recalculate as the batch is reviewed.

Important: Do not open or edit the files before uploading them. Excel and similar programs strip leading zeros from account numbers and BSBs and reformat amounts, which can cause your bank to reject the payment or misdirect funds. Drag the file straight from the ZIP into your bank portal or the File Converter.

Processing the Payment File CSVs

The .csv Payment File covers all payments from a non-Australian outgoing bank account (for example, an NZ fund paying in NZD) and cross-border payments from an Australian fund to non-Australian payees.
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These files are converted to your bank's format using Caruso's File Converter. See the full step-by-step in Payment File Convertor Tool. Supported formats include BNZ, ASB, Westpac NZ, Kiwibank, ANZ NZ, ICBC, and others.

Processing the ABA file (Australian funds only)

When both the payer fund and the payee investor hold Australian bank accounts, Caruso generates a ready-to-upload .aba file inside the Payment Pack. No conversion is needed and the File Converter is not used. Upload the file directly to your bank's bulk payment portal and follow your usual approval workflow.
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Important: If a fund has payees in other countries, those payments do not appear in the ABA file or the account's Payment File CSV. They are collected in the International Payments CSV for you to process separately.

Set up Australian outgoing bank accounts

Before your first ABA download, configure two fields on each AU outgoing bank account. Caruso then reuses them every time you download a Payment Pack.
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Go to Fund Settings → Bank Accounts and add or edit your outgoing bank account. When Country = Australia, two extra fields appear:

Field

What to enter

Bank Code

Three-letter code identifying the bank (e.g. ANZ, CBA, NAB, WBC). Select from the dropdown.

Direct Entry User ID & (APCA / BECS number)

The 6-character ID your bank issued you for direct entry.

Note: If these fields are missing when you try to download a Payment Pack, the download is blocked with a warning telling you which bank account needs configuring. Non-Australian outgoing bank accounts do not need this setup.

Troubleshooting

Symptom

Cause

Fix

A payee is missing from the Payment Pack

The payee has no bank account on file, or their payment amount is zero.

Add a bank account to the investing entity, then re-download. Zero-cent payments are intentionally excluded.

Bank rejects the payment file

The file was opened or edited (often in Excel) before upload, stripping leading zeros.

Re-download the Payment Pack and use the file straight from the ZIP without opening it.

Download blocked: "ABA generation requires Bank Code and Direct Entry User ID…" (AU funds only)

The AU outgoing bank account is missing one or both ABA fields.

Go to Fund Settings → Bank Accounts, edit the named account, and fill in Bank Code and Direct Entry User ID.

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If you have any questions or need help at any stage, please contact our Caruso Support team either by email or live chat.

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