diff --git a/lnbits/extensions/watchonly/crud.py b/lnbits/extensions/watchonly/crud.py
index 4e4382c94..c10b9057d 100644
--- a/lnbits/extensions/watchonly/crud.py
+++ b/lnbits/extensions/watchonly/crud.py
@@ -12,19 +12,8 @@ from .helpers import parse_key, derive_address
 ##########################WALLETS####################
 
 
-async def create_watch_wallet(user: str, masterpub: str, title: str) -> WalletAccount:
-    # check the masterpub is fine, it will raise an exception if not
-    (descriptor, _) = parse_key(masterpub)
-
-    type = descriptor.scriptpubkey_type()
-    fingerprint = descriptor.keys[0].fingerprint.hex()
+async def create_watch_wallet(w: WalletAccount) -> WalletAccount:
     wallet_id = urlsafe_short_hash()
-
-    wallets = await get_watch_wallets(user)
-    w = next((w for w in wallets if w.fingerprint == fingerprint), None)
-    if w:
-        raise ValueError("Account '{}' has the same master pulic key".format(w.title))
-
     await db.execute(
         """
         INSERT INTO watchonly.wallets (
@@ -39,8 +28,16 @@ async def create_watch_wallet(user: str, masterpub: str, title: str) -> WalletAc
         )
         VALUES (?, ?, ?, ?, ?, ?, ?, ?)
         """,
-        # address_no is -1 so fresh address on empty wallet can get address with index 0
-        (wallet_id, user, masterpub, fingerprint, title, type, -1, 0),
+        (
+            wallet_id,
+            w.user,
+            w.masterpub,
+            w.fingerprint,
+            w.title,
+            w.type,
+            w.address_no,
+            w.balance,
+        ),
     )
 
     return await get_watch_wallet(wallet_id)
diff --git a/lnbits/extensions/watchonly/views_api.py b/lnbits/extensions/watchonly/views_api.py
index c27a4372b..a05690b41 100644
--- a/lnbits/extensions/watchonly/views_api.py
+++ b/lnbits/extensions/watchonly/views_api.py
@@ -31,7 +31,7 @@ from .crud import (
     get_config,
     update_config,
 )
-from .models import CreateWallet, CreatePsbt, Config
+from .models import CreateWallet, CreatePsbt, Config, WalletAccount
 from .helpers import parse_key
 
 
@@ -66,9 +66,32 @@ async def api_wallet_create_or_update(
     data: CreateWallet, w: WalletTypeInfo = Depends(require_admin_key)
 ):
     try:
-        wallet = await create_watch_wallet(
-            user=w.wallet.user, masterpub=data.masterpub, title=data.title
+        (descriptor, _) = parse_key(data.masterpub)
+
+        new_wallet = WalletAccount(
+            id="none",
+            user=w.wallet.user,
+            masterpub=data.masterpub,
+            fingerprint=descriptor.keys[0].fingerprint.hex(),
+            type=descriptor.scriptpubkey_type(),
+            title=data.title,
+            address_no=-1,  # so fresh address on empty wallet can get address with index 0
+            balance=0,
         )
+
+        wallets = await get_watch_wallets(w.wallet.user)
+        existing_wallet = next(
+            (ew for ew in wallets if ew.fingerprint == new_wallet.fingerprint), None
+        )
+        if existing_wallet:
+            raise ValueError(
+                "Account '{}' has the same master pulic key".format(
+                    existing_wallet.title
+                )
+            )
+
+        wallet = await create_watch_wallet(new_wallet)
+
         await api_get_addresses(wallet.id, w)
     except Exception as e:
         raise HTTPException(status_code=HTTPStatus.BAD_REQUEST, detail=str(e))