Postal Service responds to calls for postal banking

July 29, 2016 – The Postal Service currently provides certain financial services appropriate to our existing infrastructure including money orders, electronic funds transfers and U.S. Treasury check cashing to meet customers’ needs. The Postal Service’s mission is to provide the American public with trusted, affordable, universal mail service. Our core function is delivery, not banking.

USPS “Important Moments”

To the extent our research concludes that we can legally provide additional services at a profit and without distracting from our core business, we would consider these. However, public policy and regulatory discussions must be addressed before the Postal Service invests in an area outside our core function.

18 thoughts on “Postal Service responds to calls for postal banking

  1. Thank God that I am not a window clerk anymore. Dealing with the dumb masses is hard enough without having to add and subtract for them to balance a checkbook.

  2. What we are trying to say is that we in USPS management are just too stupid and incompetent to manage what we are doing now, much less trying to add new services like banking.

    But we do believe that we USPS managers can provide a better USPS managed health care plan to our employees and retirees than any of the FEHB plans. Because our USPS managed health care plan would be so much better for USPS management, we are pushing to have all USPS employees removed from the FEHB and make our USPS managed health plan mandatory for all USPS employees.

  3. Congressional puppeteers dangling the strings so the post office can continue to be invaded by PRIVATEERS who ultimately wants a cheap labor force at the GOVERNMENT EXPENSE..AMAZON posted 866 Million dollar 2nd qtr earnings all thanks to its delivery deal with the post office..oh and its CLOUD services..but the USPS continues to lose money..so why not venture into banking..when everyone is involved in pkg delivery?..why not?..cause it goes against the plan of destroying the p.o…

  4. As mentioned before, the Post Office could not go into further banking without changing their basic financial rules. First, clerks would have to have access to much more cash when they open for business then they now have. Currently, they can only open with $100 cash, which makes it impossible to cash checks or money orders for amounts greater than that. Expanding the amount of cash available nationwide would require much greater ( they have none now) security measures, as Post Offices would be more prone to be robbed, if it was known that greater amounts of cash were on hand, and most post offices have no security at all. Any cameras that might be on site are directed at the clerks, not customers. Second, the staffing would be an issue. Postal management has been directed to reduce to the absolute minimum any postal retail clerks working at the counters, in part to force customers to take their business to non postal contract stations. These contract stations would not wish to go into banking, I would guess. As the number of clerks might not be sufficient to satisfy customer needs, you can bet that the Post Office would add another 20,000 or so managers, just to micromanage those who would be doing the work, as they do now. If the PO went into small loans, we would be directly competing with the payday loan companies, which would not doubt result in lawsuits form them for unfair competition. The result would be the PO having to charge higher fees then the payday loan companies. Any loans given out by the Post Office would be to very high risk individuals, who would have a very small chance of paying back any borrowed funds. The Post Office would not be equipted to recover unpaid funds, so this would be a money loser.

    Could the Post Office offer further banking services? Yes, they could, but only if the previous steps were considered and worked on, first.

  5. The postal service can’t get mail delivery right what makes them thing they can handle another service? And who will be picking up the deposits the supervisors or PM’s? Or maybe this is an excuse to give them side arms, so they can use them on the workers instead if harassing them. At lease we know they won’t put ATM’s in that would mean another job filling them . No more stamp machines eliminated jobs..

  6. I see a lot of trolls on here.If Postal banking works for our public citizens then it should be seriously considered..

  7. Why must everything in America make a profit? Does the Preamble to the Constitution say “We The People In Order To Form A More Perfect Union” or does it say ” We The People In Order To Form A Better Business Climate”? And for the idiots that keep screaming how the Postal Service has lost millions”, the so called loses is because the Postal Service must pre pay it’s health care costs! Get the facts !Don’t let the truth get in the way. Make UPS, Federal Express, and every other organization with employees, pre pay their health care costs! Postal Banking, a good way to stick it to the financial bastards. To big to fail, must be give tax dollars to be saved!

  8. Are you really going to allow private corporate executives at Fed Ex, UPS or any other private company remove anymore of your services. The United States postal service is, was and will always be a trusted service organization. To succumb to private companies or even make comparisons is ludicrous.

    • You are not well informed. It is better for people to think you are ignorant than to post something ridiculous and remove all doubt.

  9. PO has lost over $90 Billion since 2009, oh yeah let’s go into banking! wtf? ROFLMFAO!!!!!!!!!!!!!!!!!!!!!!

    • pre funding, by your congress. the loss is because of corporate greed. does your company pre fund ahead 75 years? no. your government is taking from the service.

  10. Good God the crooks will rob them blind! ObamaCare web site cost 5 Billion to produce….and it does not work. VA Hospitals that are killing Vets………NO NO these po dopes are no JP Morgan Chase or Goldman Sachs bankers with MBA’s and PhD’s. low IQ postal mismanagers want to try their hand in banking lol while the Federal Gum-Mint is 20 Trillion in debt…….God are these fanooks insane! if Killery gets in what cop would respond to a federal post office being robbed—–I wouldn’t!

  11. I wouldn’t bank with them anyway, the way they lose packages what would they do with money?

    • Really?? The Post Office does not “lose packages” as you state. They may get misdelivered, but that is usually because of incorrect addresses, or in a very few cases, a package may be destroyed in shipping….but to disappear?? Go back to your phoney wrestling, Rick.

    • you have the right to ship with who ever you want. lost packages arent as frequent as you think. no more than any of the other shippers.

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