diff --git a/src/wallet/scriptpubkeyman.cpp b/src/wallet/scriptpubkeyman.cpp
index 8a2a7986441..9199a843fde 100644
--- a/src/wallet/scriptpubkeyman.cpp
+++ b/src/wallet/scriptpubkeyman.cpp
@@ -900,20 +900,22 @@ bool LegacyScriptPubKeyMan::AddWatchOnly(const CScript& dest, int64_t nCreateTim
     return AddWatchOnly(dest);
 }
 
-void LegacyScriptPubKeyMan::SetHDChain(const CHDChain& chain, bool memonly)
+void LegacyScriptPubKeyMan::LoadHDChain(const CHDChain& chain)
 {
     LOCK(cs_KeyStore);
-    // memonly == true means we are loading the wallet file
-    // memonly == false means that the chain is actually being changed
-    if (!memonly) {
-        // Store the new chain
-        if (!WalletBatch(m_storage.GetDatabase()).WriteHDChain(chain)) {
-            throw std::runtime_error(std::string(__func__) + ": writing chain failed");
-        }
-        // When there's an old chain, add it as an inactive chain as we are now rotating hd chains
-        if (!m_hd_chain.seed_id.IsNull()) {
-            AddInactiveHDChain(m_hd_chain);
-        }
+    m_hd_chain = chain;
+}
+
+void LegacyScriptPubKeyMan::AddHDChain(const CHDChain& chain)
+{
+    LOCK(cs_KeyStore);
+    // Store the new chain
+    if (!WalletBatch(m_storage.GetDatabase()).WriteHDChain(chain)) {
+        throw std::runtime_error(std::string(__func__) + ": writing chain failed");
+    }
+    // When there's an old chain, add it as an inactive chain as we are now rotating hd chains
+    if (!m_hd_chain.seed_id.IsNull()) {
+        AddInactiveHDChain(m_hd_chain);
     }
 
     m_hd_chain = chain;
@@ -1167,7 +1169,7 @@ void LegacyScriptPubKeyMan::SetHDSeed(const CPubKey& seed)
     CHDChain newHdChain;
     newHdChain.nVersion = m_storage.CanSupportFeature(FEATURE_HD_SPLIT) ? CHDChain::VERSION_HD_CHAIN_SPLIT : CHDChain::VERSION_HD_BASE;
     newHdChain.seed_id = seed.GetID();
-    SetHDChain(newHdChain, false);
+    AddHDChain(newHdChain);
     NotifyCanGetAddressesChanged();
     WalletBatch batch(m_storage.GetDatabase());
     m_storage.UnsetBlankWalletFlag(batch);
diff --git a/src/wallet/scriptpubkeyman.h b/src/wallet/scriptpubkeyman.h
index 2f6245bbe27..5b0ccc0ac4a 100644
--- a/src/wallet/scriptpubkeyman.h
+++ b/src/wallet/scriptpubkeyman.h
@@ -421,8 +421,10 @@ public:
     //! Generate a new key
     CPubKey GenerateNewKey(WalletBatch& batch, CHDChain& hd_chain, bool internal = false) EXCLUSIVE_LOCKS_REQUIRED(cs_KeyStore);
 
-    /* Set the HD chain model (chain child index counters) */
-    void SetHDChain(const CHDChain& chain, bool memonly);
+    /* Set the HD chain model (chain child index counters) and writes it to the database */
+    void AddHDChain(const CHDChain& chain);
+    //! Load a HD chain model (used by LoadWallet)
+    void LoadHDChain(const CHDChain& chain);
     const CHDChain& GetHDChain() const { return m_hd_chain; }
     void AddInactiveHDChain(const CHDChain& chain);
 
diff --git a/src/wallet/walletdb.cpp b/src/wallet/walletdb.cpp
index 331408ef489..7690019b692 100644
--- a/src/wallet/walletdb.cpp
+++ b/src/wallet/walletdb.cpp
@@ -540,7 +540,7 @@ ReadKeyValue(CWallet* pwallet, CDataStream& ssKey, CDataStream& ssValue,
         } else if (strType == DBKeys::HDCHAIN) {
             CHDChain chain;
             ssValue >> chain;
-            pwallet->GetOrCreateLegacyScriptPubKeyMan()->SetHDChain(chain, true);
+            pwallet->GetOrCreateLegacyScriptPubKeyMan()->LoadHDChain(chain);
         } else if (strType == DBKeys::FLAGS) {
             uint64_t flags;
             ssValue >> flags;