This may be old news for a lot of folks here, but I just found out there I've been wasting money on a PO Box I don't need, since I can just direct parcels to be delivered to the post office under my name; it's called parcel collect. Not to mention all those businesses who insist on not accepting PO Boxes for delivery address!
For those who can't collect their parcels during business hours, there are also 24/7 parcel lockers. At this point, the only good reason to pay for a PO Box is when away on travel longer than 10 days.
UPDATE: If one does choose to keep a POBox, some post offices offer POBox Plus, thru which one can receive in one's POBox up to 50 private courier deliveries per year (or more?) for an extra $2/mo (and $3 ea thereafter). Seems like a good deal too.
T&C
Parcel Collect
Collection time limits apply. Items must be lodged with Australia Post to be delivered to a participating Post Office. Trading hours may vary. You have 10 business days to collect your parcel once it has arrived at a Parcel Collect (Post Office) location. Post Offices will accept parcels up to 22kg and not greater than 105cm in one dimension. Letters and standard mail that can be delivered to your letterbox, including Express Post letters, will not be accepted. Please refer to the full terms and conditions for further details.Parcel Locker
Collection time limits apply. Fees and charges will apply to carriers other than Australia Post and StarTrack to lodge parcels under the Parcel Locker and Parcel Collect (Post Office) services. This cost may be passed on to customers.Parcels must be appropriately packed in either a prepaid satchel or a box or satchel with a postage label. Parcels must be under 16kg and no larger than 39 x 36 x 64cm in size. Letters and standard mail is not accepted. The Express Post Guarantee does not apply to parcels sent using a parcel locker.
You have 48 hours to collect your parcel once it has arrived at a Parcel Locker, or 10 business days to collect once it has arrived at a Parcel Collect (Post Office) location. Post Offices will accept parcels up to 22kg and not greater than 105cm in one dimension. Letters and standard mail that can be delivered to your letterbox, including Express Post letters, will not be accepted. Please refer to the full terms and conditions for further details.
Side note, parcel lockers will sometimes redirect letter sized items (or actual letters) to your letterbox.
If you have a PO Box because you do not/cannot have a letterbox for whatever reason, a parcel locker is not a replacement. Otherwise, parcel lockers are great.