diff --git a/key-wallet/src/wallet/accounts.rs b/key-wallet/src/wallet/accounts.rs
index dd6f55b17..a10aa3f1a 100644
--- a/key-wallet/src/wallet/accounts.rs
+++ b/key-wallet/src/wallet/accounts.rs
@@ -62,6 +62,20 @@ impl Wallet {
             )));
         }
 
+        let xpub = &account.account_xpub;
+        if !account_type.is_contact_owned()
+            && self.accounts.all_accounts().iter().any(|a| {
+                !a.account_type.is_contact_owned()
+                    && a.account_xpub.public_key == xpub.public_key
+                    && a.account_xpub.chain_code == xpub.chain_code
+            })
+        {
+            return Err(Error::InvalidParameter(format!(
+                "Extended public key of {:?} is already used by another account",
+                account_type
+            )));
+        }
+
         // Insert into the collection
         self.accounts.insert(account).map_err(|e| Error::InvalidParameter(e.to_string()))
     }
diff --git a/key-wallet/src/wallet/mod.rs b/key-wallet/src/wallet/mod.rs
index ec961e222..39e18fd8b 100644
--- a/key-wallet/src/wallet/mod.rs
+++ b/key-wallet/src/wallet/mod.rs
@@ -243,6 +243,9 @@ mod tests {
     use super::*;
     use crate::account::account_collection::AccountCollection;
     use crate::account::{AccountType, StandardAccountType};
+    use crate::bip32::{ChildNumber, ExtendedPubKey};
+    use crate::Error;
+    use test_case::test_case;
 
     use crate::wallet::managed_wallet_info::wallet_info_interface::WalletInfoInterface;
 
@@ -568,6 +571,96 @@ mod tests {
         assert!(wallet.accounts.count() >= 2);
     }
 
+    #[test_case(|_| {} ; "same xpub")]
+    #[test_case(|x| x.depth += 1 ; "different depth")]
+    #[test_case(|x| x.parent_fingerprint = Default::default() ; "different parent fingerprint")]
+    #[test_case(|x| x.child_number = ChildNumber::from(7) ; "different child number")]
+    fn test_add_account_rejects_imported_xpub_in_use(alter: fn(&mut ExtendedPubKey)) {
+        let mut wallet = Wallet::new_random(
+            Network::Testnet,
+            initialization::WalletAccountCreationOptions::Default,
+        )
+        .unwrap();
+        let mut xpub = wallet.get_bip44_account(0).unwrap().account_xpub;
+        alter(&mut xpub);
+        let count = wallet.accounts.count();
+
+        let result = wallet.add_account(
+            AccountType::Standard {
+                index: 5,
+                standard_account_type: StandardAccountType::BIP32Account,
+            },
+            Some(xpub),
+        );
+
+        assert!(matches!(result, Err(Error::InvalidParameter(_))));
+        assert_eq!(wallet.accounts.count(), count);
+    }
+
+    #[test]
+    fn test_add_account_rejects_derived_xpub_in_use() {
+        let mut wallet = Wallet::new_random(
+            Network::Testnet,
+            initialization::WalletAccountCreationOptions::Default,
+        )
+        .unwrap();
+        let bip44 = AccountType::Standard {
+            index: 5,
+            standard_account_type: StandardAccountType::BIP44Account,
+        };
+        let xpub = wallet
+            .derive_extended_public_key(&bip44.derivation_path(Network::Testnet).unwrap())
+            .unwrap();
+        wallet
+            .add_account(
+                AccountType::Standard {
+                    index: 5,
+                    standard_account_type: StandardAccountType::BIP32Account,
+                },
+                Some(xpub),
+            )
+            .unwrap();
+        let count = wallet.accounts.count();
+
+        let result = wallet.add_account(bip44, None);
+
+        assert!(matches!(result, Err(Error::InvalidParameter(_))));
+        assert_eq!(wallet.accounts.count(), count);
+    }
+
+    #[test]
+    fn test_add_account_accepts_reverse_external_sharing_receiving_xpub() {
+        let mut wallet = Wallet::new_random(
+            Network::Testnet,
+            initialization::WalletAccountCreationOptions::Default,
+        )
+        .unwrap();
+        let (us, them) = ([0xaa; 32], [0xbb; 32]);
+        wallet
+            .add_account(
+                AccountType::DashpayReceivingFunds {
+                    index: 0,
+                    user_identity_id: us,
+                    friend_identity_id: them,
+                },
+                None,
+            )
+            .unwrap();
+        let count = wallet.accounts.count();
+
+        let result = wallet.add_account(
+            AccountType::DashpayExternalAccount {
+                index: 0,
+                user_identity_id: them,
+                friend_identity_id: us,
+            },
+            None,
+        );
+
+        assert!(result.is_ok());
+        assert_eq!(wallet.accounts.count(), count + 1);
+    }
+
     // ✓ Test wallet ID generation
     #[test]
     fn test_wallet_id_generation() {