Launched this month, Whatbills <whatbills.com> is a simple $1.95/mo Web-based service for tracking your bills and sending yourself email reminders to pay. Although the functionality is limited, it's the kind of service banks should be offering. We found out about the service through its Google advertisement on the phrase "quicken online" (see screenshot right).

The interface is similar to Billeo (NB Feb. 14), but with far fewer functions. Users can do three things:

1. Enter bill name, category, due date and amount
2. Send themselves email reminders to pay
3. Mark bills as paid

The entire program today is shown on the screenshot below:

Business model
At a cost of $1.95/mo, which is about what you'd pay each year for Intuit's Quicken Basic, the company doesn't seem to have a compelling selling proposition. It would make more sense to offer a limited free version, perhaps earning a few pennies per month per user by displaying advertising on the user interface. Then upgrade users to a premium plan with more features.

But neither of those business models will yield much more than low-six figures per year. A more likely scenario for the San Diego-based company is a sale to Microsoft, Google, or a major financial institution for a few hundred thousand, a price that would be less expensive for a large company than developing the application internally.

Update: A similar Web-based service, BudgetTracker <budgettracker.com> founded in 2003, has a free version that uses Google AdSense revenue to keep it running. For $19.99/yr users can upgrade to an ad-free version that also provides unlimited data storage and several additional features such as bank-data import. See the price plans here.

–JB