Originally Posted by
stimpy
Yes, you get the true bank rate with Wells, minus the $5. I check it from time to time and I use ATM's all over the world, including India. Due to the $5 fee, it is wise to get out a lot of cash so you don't need to go back. Have them up your limit if you want. I had mine raised to a couple thousand.
One thing to keep in mind: Some foreign ATMs will limit you to small withdrawals, regardless of your limit with your own bank (in Peru, for example, I'm usually limited to $100 US or $500 PEN (about $180)), requiring you to do multiple transactions at the machine. So if you want to take out $500, that $5 fee is suddenly $25. FWIW, I've been using an ATM card linked to a Capital One money market account. Zero charges (from them) and they seem to use the day's bank rate. The only caveat is that the bank that owns the foreign ATM may charge a fee (which again, can multiple rapidly because of those withdrawal limits), but I've usually found that there's usually at least one bank that forgoes that fee, too, so with a bit of trial and error you can avoid all fees.
Good luck!