Glep vs. Bank of America

Business Advantage Fundamentals Banking is $16 per month, waived with a $5,000 combined average balance, $500 in debit card purchases or Preferred Rewards membership; Relationship Banking is $29.95, waived at $15,000 or with Preferred Rewards. Outgoing domestic wires are $30, incoming wires $15 on Fundamentals, and transactions past the free allowance are $0.45 each, as published on bankofamerica.com on September 24, 2026. Glep is $0 with no monthly fee, no per-user fee, $0 same-day ACH, wires, RTP and FedNow, and a 3% FX fee on international card transactions.

At Bank of America, each entity opens its own account, with a second Business Advantage account at $0 only on Relationship Banking. On Glep, every LLC lives under one login with its own account, cards and records, each team member sees only the entities you give them, and every property gets a sub-account with its own account number, all free.

Yes. The contractor gets a virtual or physical card whose ceiling is the project budget: it declines at merchants you have not allowed, stops working when the budget is gone, and books every purchase to the project as it happens. Bank of America's debit and credit cards are subject to approval and no per-project cap is listed, so the control there arrives with the statement.

Yes, and you keep whatever your accountant already uses: Glep sits upstream of the ledger and hands it transactions that already know their property and entity. Bank of America's business pages list no property-level tracking and no automatic categorization, so what leaves the bank is a statement and the property gets attached downstream.

Yes. Capture the receipt where the money is spent, issue or kill a card from the truck, approve spend without going back to a desk. Bank of America's Business Advantage 360 app covers banking and its Account Management access controls, but with no expense policies or project caps listed, the approval step it can offer is a payment, not a purchase.

No, and most operators do not. Branch access, cash deposits and a lending relationship are reasons to keep the account, and none of them is what Glep replaces. Open a Glep account online with your US business entity and EIN, add each LLC, open a sub-account per property and issue cards, then run one property through it. Bank of America's $16 or $29.95 monthly fee is waivable, so the old account can sit there while the new structure proves itself.

If your business is a set of properties held in a set of entities, Glep is built around that structure: an account per LLC, a sub-account per property, Aida tagging every transaction to the property it belongs to, and contractor cards that stop at the budget. Contractors and developers get the same structure for projects, draws and crews, and pay subs at $0 by same-day ACH, wire, RTP or FedNow. If your business is outside real estate but runs money across several entities, projects or vendors, Glep gives you multi-entity management, entity-scoped team access, sub-accounts with unique account numbers, approval workflows and unlimited cards on the free plan, with no monthly fee to waive and no per-wire fee. Start with one property or one project and move the rest on your own schedule; there is no contract and no lock-in.