diff --git a/src/init.cpp b/src/init.cpp
index c5a8cc9fbe2..90dbad61b7b 100644
--- a/src/init.cpp
+++ b/src/init.cpp
@@ -29,6 +29,7 @@
 using namespace std;
 using namespace boost;
 
+std::string strWalletFile;
 CWallet* pwalletMain;
 CClientUIInterface uiInterface;
 
@@ -169,6 +170,7 @@ std::string HelpMessage()
     strUsage += "  -pid=<file>            " + _("Specify pid file (default: bitcoind.pid)") + "\n";
     strUsage += "  -gen                   " + _("Generate coins (default: 0)") + "\n";
     strUsage += "  -datadir=<dir>         " + _("Specify data directory") + "\n";
+    strUsage += "  -wallet=<file>         " + _("Specify wallet file (within data directory)") + "\n";
     strUsage += "  -dbcache=<n>           " + _("Set database cache size in megabytes (default: 25)") + "\n";
     strUsage += "  -timeout=<n>           " + _("Specify connection timeout in milliseconds (default: 5000)") + "\n";
     strUsage += "  -proxy=<ip:port>       " + _("Connect through socks proxy") + "\n";
@@ -493,10 +495,16 @@ bool AppInit2(boost::thread_group& threadGroup)
             InitWarning(_("Warning: -paytxfee is set very high! This is the transaction fee you will pay if you send a transaction."));
     }
 
+    strWalletFile = GetArg("-wallet", "wallet.dat");
+
     // ********************************************************* Step 4: application initialization: dir lock, daemonize, pidfile, debug log
 
     std::string strDataDir = GetDataDir().string();
 
+    // Wallet file must be a plain filename without a directory
+    if (strWalletFile != boost::filesystem::basename(strWalletFile) + boost::filesystem::extension(strWalletFile))
+        return InitError(strprintf(_("Wallet %s resides outside data directory %s\n"), strWalletFile.c_str(), strDataDir.c_str()));
+
     // Make sure only a single Bitcoin process is using the data directory.
     boost::filesystem::path pathLockFile = GetDataDir() / ".lock";
     FILE* file = fopen(pathLockFile.string().c_str(), "a"); // empty lock file; created if it doesn't exist.
@@ -555,13 +563,13 @@ bool AppInit2(boost::thread_group& threadGroup)
     if (GetBoolArg("-salvagewallet", false))
     {
         // Recover readable keypairs:
-        if (!CWalletDB::Recover(bitdb, "wallet.dat", true))
+        if (!CWalletDB::Recover(bitdb, strWalletFile, true))
             return false;
     }
 
-    if (filesystem::exists(GetDataDir() / "wallet.dat"))
+    if (filesystem::exists(GetDataDir() / strWalletFile))
     {
-        CDBEnv::VerifyResult r = bitdb.Verify("wallet.dat", CWalletDB::Recover);
+        CDBEnv::VerifyResult r = bitdb.Verify(strWalletFile, CWalletDB::Recover);
         if (r == CDBEnv::RECOVER_OK)
         {
             string msg = strprintf(_("Warning: wallet.dat corrupt, data salvaged!"
@@ -839,7 +847,7 @@ bool AppInit2(boost::thread_group& threadGroup)
 
     nStart = GetTimeMillis();
     bool fFirstRun = true;
-    pwalletMain = new CWallet("wallet.dat");
+    pwalletMain = new CWallet(strWalletFile);
     DBErrors nLoadWalletRet = pwalletMain->LoadWallet(fFirstRun);
     if (nLoadWalletRet != DB_LOAD_OK)
     {
@@ -904,7 +912,7 @@ bool AppInit2(boost::thread_group& threadGroup)
         pindexRescan = pindexGenesisBlock;
     else
     {
-        CWalletDB walletdb("wallet.dat");
+        CWalletDB walletdb(strWalletFile);
         CBlockLocator locator;
         if (walletdb.ReadBestBlock(locator))
             pindexRescan = locator.GetBlockIndex();
diff --git a/src/init.h b/src/init.h
index 5927670c834..a4d5a672524 100644
--- a/src/init.h
+++ b/src/init.h
@@ -7,6 +7,7 @@
 
 #include "wallet.h"
 
+extern std::string strWalletFile;
 extern CWallet* pwalletMain;
 
 void StartShutdown();
diff --git a/src/qt/optionsmodel.cpp b/src/qt/optionsmodel.cpp
index 6b1b4e3d8e7..7ebe5b4755b 100644
--- a/src/qt/optionsmodel.cpp
+++ b/src/qt/optionsmodel.cpp
@@ -89,7 +89,7 @@ bool OptionsModel::Upgrade()
     settings.setValue("bImportFinished", true);
 
     // Move settings from old wallet.dat (if any):
-    CWalletDB walletdb("wallet.dat");
+    CWalletDB walletdb(strWalletFile);
 
     QList<QString> intOptions;
     intOptions << "nDisplayUnit" << "nTransactionFee";