Not looking to resurrect an old thread but thought I would add some Canadian content for those searching.
The way we are setup there are no fees for any transactions whether ATM, Debit, or CC purchases.
The credit cards we have are Home Trust Visa, and MBNA World Elite Mastercard. Neither charge foreign transaction fees and the exchange is always inline with xe.com. The Home Trust Visa is a no-fees card. The MBNA card is $150/year but has a 1.8% cash back, which more than pays for the card. I believe these terms may be changing in the near future. We do not use credit cards for cash withdrawals.
We have a no fees Tangerine bank account. This is Scotia's online only affiliate. They are partnered with Bank of America in the USA and Scotia here in Mexico. If we decline all offers that popup on the screen we get the same exchange rate that is posted at xe.com and no transaction fees show up on our statements. Yes, Bank of America runs the same scam as the machines here in Mexico.