diff --git a/src/wallet/rpcwallet.cpp b/src/wallet/rpcwallet.cpp
index e8c3ae888d0da..ef3f42394bf5b 100644
--- a/src/wallet/rpcwallet.cpp
+++ b/src/wallet/rpcwallet.cpp
@@ -207,8 +207,36 @@ static std::string LabelFromValue(const UniValue& value)
  *                                      verify only that fee_rate is greater than 0
  * @throws a JSONRPCError if conf_target, estimate_mode, or fee_rate contain invalid values or are in conflict
  */
-static void SetFeeEstimateMode(const CWallet& wallet, CCoinControl& cc, const UniValue& conf_target, const UniValue& estimate_mode, const UniValue& fee_rate, bool override_min_fee)
+static void SetFeeEstimateMode(const CWallet& wallet, CCoinControl& cc, UniValue conf_target, UniValue estimate_mode, UniValue fee_rate, bool override_min_fee)
 {
+    if (estimate_mode.isStr()) {
+        const auto estimate_mode_str = ToUpper(estimate_mode.get_str());
+        if (estimate_mode_str == "EXPLICIT" ||
+            estimate_mode_str == ToUpper(CURRENCY_UNIT + "/kB") ||
+            estimate_mode_str == ToUpper(CURRENCY_ATOM + "/B")) {
+            if (!fee_rate.isNull()) {
+                throw JSONRPCError(RPC_INVALID_PARAMETER, "Cannot specify both conf_target and fee_rate. For explicit fees, please use fee_rate.");
+            }
+            if (conf_target.isNull()) {
+                throw JSONRPCError(RPC_INVALID_PARAMETER, "Selected estimate_mode is deprecated and requires a fee rate in conf_target. Better to upgrade to fee_rate.");
+            }
+            if (estimate_mode_str.at(estimate_mode_str.size() - 2) == '/') {
+                // "sat/B": pretty straightforward
+                fee_rate = conf_target;
+            } else {
+                // "BTC/kB" or "EXPLICIT": Need to convert to sat/vB
+                CAmount fee_rate_amount = AmountFromValue(conf_target);
+                // NOTE: AmountFromValue never allows negative
+                // AmountFromValue gives us satoshis per kvB, so to get sat/vB we just divide out the kilo
+                const int64_t quotient = fee_rate_amount / 1000;
+                const int64_t remainder = fee_rate_amount % 1000;
+                fee_rate.setNumStr(strprintf("%d.%03d", quotient, remainder));
+            }
+            estimate_mode.setNull();
+            conf_target.setNull();
+            override_min_fee = false;
+        }
+    }
     if (!fee_rate.isNull()) {
         if (!conf_target.isNull()) {
             throw JSONRPCError(RPC_INVALID_PARAMETER, "Cannot specify both conf_target and fee_rate. Please provide either a confirmation target in blocks for automatic fee estimation, or an explicit fee rate.");
diff --git a/test/functional/wallet_basic.py b/test/functional/wallet_basic.py
index 3cbddaf6dacd1..ad71d09350807 100755
--- a/test/functional/wallet_basic.py
+++ b/test/functional/wallet_basic.py
@@ -273,7 +273,7 @@ def run_test(self):
         for target, mode in product([-1, 0, 1009], ["economical", "conservative"]):
             assert_raises_rpc_error(-8, "Invalid conf_target, must be between 1 and 1008",  # max value of 1008 per src/policy/fees.h
                 self.nodes[2].sendmany, amounts={address: 1}, conf_target=target, estimate_mode=mode)
-        for target, mode in product([-1, 0], ["btc/kb", "sat/b"]):
+        for target, mode in product([-1, 0], ["btc/kvb", "sat/vb"]):
             assert_raises_rpc_error(-8, 'Invalid estimate_mode parameter, must be one of: "unset", "economical", "conservative"',
                 self.nodes[2].sendmany, amounts={address: 1}, conf_target=target, estimate_mode=mode)
 
@@ -456,7 +456,7 @@ def run_test(self):
             for target, mode in product([-1, 0, 1009], ["economical", "conservative"]):
                 assert_raises_rpc_error(-8, "Invalid conf_target, must be between 1 and 1008",  # max value of 1008 per src/policy/fees.h
                     self.nodes[2].sendtoaddress, address=address, amount=1, conf_target=target, estimate_mode=mode)
-            for target, mode in product([-1, 0], ["btc/kb", "sat/b"]):
+            for target, mode in product([-1, 0], ["btc/kvb", "sat/vb"]):
                 assert_raises_rpc_error(-8, 'Invalid estimate_mode parameter, must be one of: "unset", "economical", "conservative"',
                     self.nodes[2].sendtoaddress, address=address, amount=1, conf_target=target, estimate_mode=mode)
 
diff --git a/test/functional/wallet_bumpfee.py b/test/functional/wallet_bumpfee.py
index c8c1f2e37493a..58c185927619c 100755
--- a/test/functional/wallet_bumpfee.py
+++ b/test/functional/wallet_bumpfee.py
@@ -135,7 +135,7 @@ def test_invalid_parameters(self, rbf_node, peer_node, dest_address):
         for k, v in {"number": 42, "object": {"foo": "bar"}}.items():
             assert_raises_rpc_error(-3, "Expected type string for estimate_mode, got {}".format(k),
                 rbf_node.bumpfee, rbfid, {"estimate_mode": v})
-        for mode in ["foo", Decimal("3.1415"), "sat/B", "BTC/kB"]:
+        for mode in ["foo", Decimal("3.1415"), "sat/vB", "BTC/kvB"]:
             assert_raises_rpc_error(-8, 'Invalid estimate_mode parameter, must be one of: "unset", "economical", "conservative"',
                 rbf_node.bumpfee, rbfid, {"estimate_mode": mode})
 
diff --git a/test/functional/wallet_send.py b/test/functional/wallet_send.py
index 9835c5a2af47d..38abba9e9e060 100755
--- a/test/functional/wallet_send.py
+++ b/test/functional/wallet_send.py
@@ -289,7 +289,7 @@ def run_test(self):
             self.test_send(from_wallet=w0, to_wallet=w1, amount=1, conf_target=target, estimate_mode=mode,
                 expect_error=(-8, "Invalid conf_target, must be between 1 and 1008"))  # max value of 1008 per src/policy/fees.h
         msg = 'Invalid estimate_mode parameter, must be one of: "unset", "economical", "conservative"'
-        for target, mode in product([-1, 0], ["btc/kb", "sat/b"]):
+        for target, mode in product([-1, 0], ["btc/kvb", "sat/vb"]):
             self.test_send(from_wallet=w0, to_wallet=w1, amount=1, conf_target=target, estimate_mode=mode, expect_error=(-8, msg))
         for mode in ["", "foo", Decimal("3.141592")]:
             self.test_send(from_wallet=w0, to_wallet=w1, amount=1, conf_target=0.1, estimate_mode=mode, expect_error=(-8, msg))