New Zealand Post wants to shut its last 79 shops, but will not say when the last branch will close its doors
New Zealand Post said the move from stand-alone stores was old news and 801 of its 880 stores were already franchised.
Franchised means the branch has closed as a dedicated Post Office.
Kiwibank originally had branches at the Post Offices.
Kiwibank is left with much less branches than there were Post Offices - branches often replaced by ATMs in the wall: it has "325 Kiwibank Limited Branch and ATM Locations" https://kiwibank.banklocationmaps.co.nz/en/nzl
I presume it will take much longer in the USA for the Post Offices to close. There is no reason something similar won't happen there - the same economic forces occur in the USA.
Note that most franchises are an in-store counter or small area set aside for the Post Office supplies. I can think of franchises in book-stores, stationery shops, pharmacies, and even a public library. I know of one Post Office branch of that 79 that remains open, however it is mostly run by unpaid volunteers including a friend of mine (no banking counter).
Specifically, what problem do post office banks have that private banks do not?
Private banks close branches all the time.