Caruso's File Converter turns the payment file from a distribution or redemption batch into the format your bank accepts for bulk payments, so you can upload it directly to your banking platform.
Australian funds: Where both the payer and payee bank accounts are Australian, Caruso generates a ready-to-upload ABA file inside the Payment Pack, so no conversion is needed for those payments. This relies on the outgoing bank account having its Bank Code and Direct Entry details set; see Distribution and Redemption Payment Packs.
Use the File Converter for payments from a non-Australian outgoing bank account (for example, an NZ fund paying in NZD), and for cross-border payments from an Australian fund to payees outside Australia.
Step 1: Download the Payment Pack
In the navigation pane, select Funds and choose the relevant fund.
Open the Distribution Batches tab (or the Redemption Batches tab for a redemption).
Open the batch you want to pay.
From the report downloads dropdown at the top right, select the Payment Pack ZIP.
Unzip the download. Inside you will find a Payment File CSV for each outgoing bank account, plus an International Payments CSV covering any cross-border payments.
Important: Only process payments from a Confirmed batch. Draft amounts may still recalculate as the batch is reviewed. And do not open or save the CSV before converting it — spreadsheet programs strip leading zeros from account numbers, which will cause your bank to reject the file.
If the Payment Pack download is blocked (Australian funds)
If your Australian outgoing bank account does not yet have its Bank Code, Direct Entry User ID, and Direct Entry User Name recorded, the Payment Pack download is blocked with a warning naming the account. The fix is to add those details in Fund Settings → Bank Accounts and download again; Caruso then reuses them for every future payment pack.
Distributions cannot be confirmed until these details are in place, so you will see the alert before reaching the payment stage.
Redemption batches can still be confirmed. If you need to pay before the account is updated, download the All Payments CSV instead, convert it here using the ABA format, and enter the Bank Code and Direct Entry details manually in the converter. This is the older workflow and should be treated as a fallback — updating the bank account is the recommended path.
Step 2: Convert the File
In the navigation pane, select File Converter.
Select the payment file converter and upload the Payment File CSV for the outgoing bank account you are paying from.
Select the required banking format.
If the account number matches a known format, the payment file type will be prefilled.
To update the format, click the dropdown menu and select the appropriate option. Supported formats include BNZ, ASB, Westpac NZ, Kiwibank, ANZ NZ, and ICBC. An ABA option is also available for the Australian fallback described above.
Payment Currency Override: Enable this option to select a different payment currency for your transactions from the dropdown menu.
Foreign Exchange Required?: Select this option if a foreign exchange conversion is necessary for your payments.
Exclude International Bank Accounts: Enable this setting to exclude investors with international bank accounts from the payment file.
Review your selections and any changes made.
Select Download to obtain your converted file.
Unzip the downloaded file to access the payment file.
Tip: Where a fund has more than one outgoing bank account, convert each account's Payment File CSV separately. Using the per-account CSVs from the Payment Pack is simpler than working from the combined All Payments CSV.
Step 3: Use the Converted File
Upload the converted payment file to your banking platform to process the distribution payments.
Important: To prevent upload failures, do not open or save the file after unzipping, as this may cause formatting issues.
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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.