diff --git a/src/wallet/wallet.cpp b/src/wallet/wallet.cpp
index 6ee3149620c27..ab3b6d9d632fb 100644
--- a/src/wallet/wallet.cpp
+++ b/src/wallet/wallet.cpp
@@ -1385,19 +1385,28 @@ bool CWallet::IsWalletFlagSet(uint64_t flag) const
     return (m_wallet_flags & flag);
 }
 
-bool CWallet::SetWalletFlags(uint64_t overwriteFlags, bool memonly)
+bool CWallet::LoadWalletFlags(uint64_t flags)
 {
     LOCK(cs_wallet);
-    m_wallet_flags = overwriteFlags;
-    if (((overwriteFlags & KNOWN_WALLET_FLAGS) >> 32) ^ (overwriteFlags >> 32)) {
+    if (((flags & KNOWN_WALLET_FLAGS) >> 32) ^ (flags >> 32)) {
         // contains unknown non-tolerable wallet flags
         return false;
     }
-    if (!memonly && !WalletBatch(*database).WriteWalletFlags(m_wallet_flags)) {
+    m_wallet_flags = flags;
+
+    return true;
+}
+
+bool CWallet::AddWalletFlags(uint64_t flags)
+{
+    LOCK(cs_wallet);
+    // We should never be writing unknown onon-tolerable wallet flags
+    assert(!(((flags & KNOWN_WALLET_FLAGS) >> 32) ^ (flags >> 32)));
+    if (!WalletBatch(*database).WriteWalletFlags(flags)) {
         throw std::runtime_error(std::string(__func__) + ": writing wallet flags failed");
     }
 
-    return true;
+    return LoadWalletFlags(flags);
 }
 
 int64_t CWalletTx::GetTxTime() const
@@ -3759,7 +3768,7 @@ std::shared_ptr<CWallet> CWallet::CreateWalletFromFile(interfaces::Chain& chain,
         // ensure this wallet.dat can only be opened by clients supporting HD with chain split and expects no default key
         walletInstance->SetMinVersion(FEATURE_LATEST);
 
-        walletInstance->SetWalletFlags(wallet_creation_flags, false);
+        walletInstance->AddWalletFlags(wallet_creation_flags);
 
         // Only create LegacyScriptPubKeyMan when not descriptor wallet
         if (!walletInstance->IsWalletFlagSet(WALLET_FLAG_DESCRIPTORS)) {
diff --git a/src/wallet/wallet.h b/src/wallet/wallet.h
index e55257bd5d19d..046b79c3075fb 100644
--- a/src/wallet/wallet.h
+++ b/src/wallet/wallet.h
@@ -1174,7 +1174,9 @@ class CWallet final : public WalletStorage, public interfaces::Chain::Notificati
 
     /** overwrite all flags by the given uint64_t
        returns false if unknown, non-tolerable flags are present */
-    bool SetWalletFlags(uint64_t overwriteFlags, bool memOnly);
+    bool AddWalletFlags(uint64_t flags);
+    /** Loads the flags into the wallet. (used by LoadWallet) */
+    bool LoadWalletFlags(uint64_t flags);
 
     /** Determine if we are a legacy wallet */
     bool IsLegacy() const;
diff --git a/src/wallet/walletdb.cpp b/src/wallet/walletdb.cpp
index 7e64ec16e1c94..8b103ba5434c6 100644
--- a/src/wallet/walletdb.cpp
+++ b/src/wallet/walletdb.cpp
@@ -544,7 +544,7 @@ ReadKeyValue(CWallet* pwallet, CDataStream& ssKey, CDataStream& ssValue,
         } else if (strType == DBKeys::FLAGS) {
             uint64_t flags;
             ssValue >> flags;
-            if (!pwallet->SetWalletFlags(flags, true)) {
+            if (!pwallet->LoadWalletFlags(flags)) {
                 strErr = "Error reading wallet database: Unknown non-tolerable wallet flags found";
                 return false;
             }