Bank of America is in a "global alliance" with other banks in Europe (Barclays in the UK, BNP Paribas in France, BNL in Italy, Deutsche Bank in Germany) that allows you to avoid a $5 fee when using their ATMs.
However... Some time last year they began to charge a "foreign transaction fee" that amounts to 3% of the money that you take out. So now the global alliance is basically a scam. I found out the hard way on a recent visit to Italy. One would be better off charging everything on a Visa card and incurring the 1% fee.
Time to find a new bank, or join my local credit union.