I talked to Elavon about 3 weeks ago. They told me that there is no setup fee or monthly fee for Executive members, which is exactly the same as I was told at my local Costco store. Read the following page:
http://www.elavon.com/acquiring/costco/
- $4.95 monthly statement fee - waived for Executive Members
- One time $25 application fee - waived for Executive Members
Are you located in the USA? if you are in Canada, they might have a different program.
I am planning to switch because the fees I'm getting hit with through my current payment processor are getting outrageous.
There may be a difference between a setup fee and an application fee. If there is a special setup fee, they didn't tell me about it.
You might want to try calling them again. You might have talked to a dufus on the phone.