Hey.. we have a electronics basics debate ongoing here...
240Vac (sinusoidal, RMS) is about 680V Pk-Pk. The positive half wave peak is at +340V and the negative half way peak at -340V when referenced to Neutral. With full wave (bridge) rectifier the bulk capacitor would be charged to +340Vdc (minus 2x the diodes forward voltage drop). The only case you would be seeing the full peak-to-peak DC is with some voltage doubler rectification circuit where each half of the sine waves are rectified in their own capacitor and the capacitors are connected in series. (This is how the 120/240V voltage selector switch works in PC power supplies, for example. It changes the circuit from voltage doubler to full bridge and vise versa.)
Maybe it is now more clear... or not?