MELBOURNE, Australia - The Australian Postal Corp., the state-owned equivalent of the U.S. Postal Service, said it has launched Australia's largest electronic banking network with seven financial institutions.

The participants are Commonwealth Bank of Australia, Citibank Australia, Challenge Bank Ltd., Advance Bank Ltd., Metway Bank Ltd., Adelaide Bank Ltd., Bendigo Bank Ltd., and Home Building Society.

The members say the network will allow withdrawals, deposits, bill and credit card payments, account balance queries, and new account openings.

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