Out of the box, you would think that the NetSuite Electronic Bank Payments module would support the CPA-005 file format because it’s mentioned in the NetSuite Electronic Bank Payments brochure.
If you are dealing with Canadian Banks CPA-005 is pretty much the only file format that will work. Unfortunately, the NetSuite stock Electronic Bank Payments module doesn’t actually support the CPA-005 format.
Why Doesn’t NetSuite Work With CPA-005?
This is because it is missing the various account fields that are required when a payment gets returned (Account Number, Institution, etc).
There is a pending enhancement request which is #229869 which you should mention when creating a case.
Most banks have added support to manually create electronic fund transfers in their web applications which could be an option for companies that aren’t sending a large number of payments every month.
The only known workaround in the NetSuite platform is to purchase the Advanced Payments module.