E*TRADE announced to many of its banking customers today that the firm has sold some of its existing savings accounts to Discover Bank.

According to an email from E*TRADE, clients who currently have a Complete Savings Account from E*TRADE Bank will have their accounts converted into a Discover Online Savings Account as of March 7th, 2010. E*TRADE’s email points out that other banking and brokerage accounts at the firm will be unaffected by the transfer to Discover Bank. While neither firm has yet released much information about the account conversions, a link within the E*TRADE client email leads to a welcome page from Discover Bank.

Click to view full-size emailCorporate Insight will monitor this situation as details become available, and will be on the lookout for other information about possible changes for E*TRADE’s banking customers. Currently, E*TRADE Bank is one of 16 firms covered by our Bank Monitor publication.