BillPayRegistry is a new website where customers can create a list of bills they need paid off, and then have friends and family members make “gift” payments via the website to be applied to said bills. The site takes 5.9% off the gift amount and sets aside the rest in a fund that the registrant can only apply to the accounts listed–there’s no way to cash out the funds, in other words.
If you’re just looking for help paying off bills, surely there’s an easier and more cost effective way to ask your family–just ask them. But maybe this is an option for people facing big life events, like getting married or having a kid, where they’d rather receive debt reduction help instead of gifts. What do you think?