diff --git a/electrum b/electrum
index cd6e661a0..e834e084a 100755
--- a/electrum
+++ b/electrum
@@ -254,6 +254,7 @@ if __name__ == '__main__':
                 if not wallet:
                     sys.exit("Error: Invalid seed")
                 wallet.save_seed(password)
+                wallet.create_accounts(password)
 
             if not options.offline:
                 network = Network(config)
diff --git a/gui/qt/installwizard.py b/gui/qt/installwizard.py
index 548cb2e1c..f203b1be8 100644
--- a/gui/qt/installwizard.py
+++ b/gui/qt/installwizard.py
@@ -353,6 +353,7 @@ class InstallWizard(QDialog):
             wallet = Wallet.from_seed(seed, self.storage)
             ok, old_password, password = self.password_dialog(wallet)
             wallet.save_seed(password)
+            wallet.create_accounts(password)
 
         elif action == 'watching':
             mpk = self.mpk_dialog()