4 ms·

I don't think it's a given that just because no one else finds it profitable means that the USPS couldn't operate it in a profitable way. Most of the reasons t

I don't think it's a given that just because no one else finds it profitable means that the USPS couldn't operate it in a profitable way. Most of the reasons that it isn't profitable relate to problems that the USPS already has to solve as part of their core function. It doesn't make sense for a bank to invest in physical infrastructure in the middle of nowhere, the cost of the building would erase any potential profit. The post office already has a building there though (and staff, etc). A significant amount of the up front expense, as well as a decent chunk of the ongoing expenses, is already going to be spent anyway.

SilasX 6y ago
Yes, but that means you're saying the USPS has some kind of advantage locating where there are disproportionate unbanked and also a dearth of banks. But I keep hearing about the unbanked as being an issue of large urban areas, which don't have any shortage of bank locations. So for these five or six people in rural areas that can't get a bank account, and aren't complete deadbeats, and can't get to a bank as easily as they can get to a post office, the USPS has a cost advantage in serving them. Okay. I just don't see numbers that make this a big source of free money.