Caruso bundles every distribution and redemption batch's payment files into a single downloadable Payment Pack ZIP — and, for Australian funds paying Australian investors, auto-generates a bank-ready ABA file so you can skip the File Converter for those payments entirely.
Downloading a Payment Pack
Open the distribution or redemption batch you want to pay, then in the report dropdown select:
Distribution payment pack ZIP on a distribution batch, or
Redemption payment pack ZIP on a redemption batch.
The Payment Pack can be downloaded from both Draft and Confirmed batches, and the status appears in the file name.
Note:
Only process payments from a Confirmed batch. Draft amounts may still recalculate as the batch is reviewed.
If any payee in the batch is missing a bank account, batch confirmation is blocked and a warning is shown. You can still download a draft Payment Pack to review, but payees without bank accounts (and zero-cent payments) are excluded from the files.
What's inside the ZIP file
The Payment Pack always contains at least one file. The exact contents depend on where the payer (fund) and payee (investor) hold their bank accounts:
Payer bank | Payee bank | File generated | Extension | Admin action |
Non-Australia (e.g. NZ) | Any | Other Payment File |
| Process through the File Converter |
Australia | Non-Australia | Other Payment File |
| Process through the File Converter |
Australia | Australia | ABA File — auto-generated, ready for bank upload |
| Upload directly to your AU bank |
Note: on multi-class funds: When multiple unit classes share the same outgoing bank account, they are aggregated into one set of files and the unit class segment of the file name becomes Multiple Classes. Classes paying from a different bank account get their own files.
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 Other Payment File
The .csv Other 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.
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.
Tip: If you have configured Payment References per investing entity, those references flow through to your bank statements automatically. No action is needed.
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.
Important: If an Australian fund has both AU and non-AU payees, the Payment Pack contains both an .aba file (for the AU payees) and an Other Payment File .csv (for the non-AU payees). Upload the ABA to your AU bank, and process the CSV through the File Converter.
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.
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.