You might have read the New York Times' Frugal Traveler (Matt Gross) report on his 3 month trip around the world. Matt  detailed his expenses in The Budget of our Intrepid Traveler (registration required). One of his complains was that his bank, Bank of America charged him a Fee on all his ATM transactions. Wendy Perrin of Conde Nast Traveler followed this topic on The Perrin Post in Getting the Best Exchange Rate Abroad. Well, It just happened that we had to open an account for one of the kids and found a solution to the ongoing fees. A recent addition to our choice of banks here in the northeast US, TD Banknorth offers a no ATM Fee Policy either in the US or abroad. All you need is to open at least a 'Simply Free Checking' with a minimum amount of $25.00 and keep the balance at all times over a Penny.
To make sure I got the right information, I double checked it with a local VP of the bank, Diane Esty.
They do not seem to add hidden charges to purchases either.
I know which ATM card I need to carry on my next trip.