Just called CapitalOne this week - CapitalOne charges NO forex fees. Not even the 1% fee charged to the bank by Visa/MC. The CSR obviously had a script touting this advantage when I asked. This was right before he tried to upsell me on some protection scheme or another, so some things don't change.

It used to be that the Visa/MC 1% was hidden inside the exchange rate, and the banks were allowed to add their own fee of 1-3% on top of that. Now (since the outcome of the class action lawsuits) the CC companies are required to break out the 1% forex fee and charge the bank. Banks separately charge the customer a fee of up to 3% (or more) but it must be separately broken out and not hidden in the exchange rate.

My Credit Union (Navy Federal) still only has a 1% fee.