diff --git a/src/wallet/scriptpubkeyman.h b/src/wallet/scriptpubkeyman.h
--- a/src/wallet/scriptpubkeyman.h
+++ b/src/wallet/scriptpubkeyman.h
@@ -530,8 +530,13 @@
                            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/scriptpubkeyman.cpp b/src/wallet/scriptpubkeyman.cpp
--- a/src/wallet/scriptpubkeyman.cpp
+++ b/src/wallet/scriptpubkeyman.cpp
@@ -878,21 +878,22 @@
     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;
@@ -1171,7 +1172,7 @@
                               ? 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/walletdb.cpp b/src/wallet/walletdb.cpp
--- a/src/wallet/walletdb.cpp
+++ b/src/wallet/walletdb.cpp
@@ -607,8 +607,7 @@
         } 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;