The Tokyo Star Bank, Ltd. is a Japanese bank established on June 11, 2001 out of the reorganization of then bankrupt Tokyo Sowa Bank by Lone Star Funds. In 2014, the bank was purchased by Taiwan's CTBC Financial Holding, marking the first time a foreign lender had taken complete ownership of a Japanese bank.
A multipurpose deposit account for personal customers. Only a cash card is issued, unlike other more traditional banks which continue to utilize savings passbooks. In place of the passbook the bank sends transaction reports monthly by post, as well as providing online banking services. Customers can take advantage of ordinary savings account, fixed term deposit, funds, as well as foreign currency deposit. One of the biggest merits of this product is that customers may make unlimited use of ATM without incurring a surcharge. In Japan, depositors typically pay charges when using ATM after office hours, or using other bank's ATM. But with the Star One cash card, those charges are paid back to the customer at the beginning of the following month.
Master Debit
Tokyo Star Bank offers two types of card, Tokyo Star Credit and Tokyo Star Debit. Tokyo Star Credit is s typical credit card, but Tokyo Star Debit is "Master Debit Card". Customers can use it almost like credit card, but the money used is immediately withdrawn from the account. So users need not worry about "credit-limit", as the card can be uses up to one's balance of the account.
Usually a Japanese bank would charge higher spread and/or transaction fee to make a currency exchange transaction. Tokyo Star Bank offers very competitive tight spreads for doing online currency exchange transaction. For ex: USD/JPY is the lowest of all with a zero transaction cost in real time.
History
1949 Tokyo Shokusan Mujin established. Afterwards renamed to Tokyo Kyowa Shokusan Mujin, Tokyo-metropolis Shokusan Mujin.
1951 converted to Mutual Bank and renamed to Tokyo Sogo Bank.
1969 Shouichi Nagata became President. He made this bank big.
1975 Nagata becomes chairman.
1989 converted to normal Bank and renamed to Tokyo Sowa Bank.
after 1992 operation declines.
1999 filed bankruptcy and Nagata was arrested next year.
2001 Lone Star Funds acquired this bank and renamed Tokyo Star Bank.
2002 Todd Budge becomes member of the board, and made various innovations to infuse the company with energy.
