diff --git a/src/wallet/wallet.cpp b/src/wallet/wallet.cpp
index a1b4eb106e..53f39cf8e3 100644
--- a/src/wallet/wallet.cpp
+++ b/src/wallet/wallet.cpp
@@ -2569,6 +2569,38 @@ bool CWallet::CreateTransaction(const std::vector<CRecipient>& vecSend, CWalletT
             std::vector<COutput> vAvailableCoins;
             AvailableCoins(vAvailableCoins, true, coinControl);
 
+            // Create change script that will be used if we need change
+            // TODO: pass in scriptChange instead of reservekey so
+            // change transaction isn't always pay-to-bitcoin-address
+            CScript scriptChange;
+
+            // coin control: send change to custom address
+            if (coinControl && !boost::get<CNoDestination>(&coinControl->destChange))
+                scriptChange = GetScriptForDestination(coinControl->destChange);
+
+            // no coin control: send change to newly generated address
+            else
+            {
+                // Note: We use a new key here to keep it from being obvious which side is the change.
+                //  The drawback is that by not reusing a previous key, the change may be lost if a
+                //  backup is restored, if the backup doesn't have the new private key for the change.
+                //  If we reused the old key, it would be possible to add code to look for and
+                //  rediscover unknown transactions that were written with keys of ours to recover
+                //  post-backup change.
+
+                // Reserve a new key pair from key pool
+                CPubKey vchPubKey;
+                bool ret;
+                ret = reservekey.GetReservedKey(vchPubKey, true);
+                if (!ret)
+                {
+                    strFailReason = _("Keypool ran out, please call keypoolrefill first");
+                    return false;
+                }
+
+                scriptChange = GetScriptForDestination(vchPubKey.GetID());
+            }
+
             nFeeRet = 0;
             // Start with no fee and loop until there is enough fee
             while (true)
@@ -2627,37 +2659,6 @@ bool CWallet::CreateTransaction(const std::vector<CRecipient>& vecSend, CWalletT
                 if (nChange > 0)
                 {
                     // Fill a vout to ourself
-                    // TODO: pass in scriptChange instead of reservekey so
-                    // change transaction isn't always pay-to-bitcoin-address
-                    CScript scriptChange;
-
-                    // coin control: send change to custom address
-                    if (coinControl && !boost::get<CNoDestination>(&coinControl->destChange))
-                        scriptChange = GetScriptForDestination(coinControl->destChange);
-
-                    // no coin control: send change to newly generated address
-                    else
-                    {
-                        // Note: We use a new key here to keep it from being obvious which side is the change.
-                        //  The drawback is that by not reusing a previous key, the change may be lost if a
-                        //  backup is restored, if the backup doesn't have the new private key for the change.
-                        //  If we reused the old key, it would be possible to add code to look for and
-                        //  rediscover unknown transactions that were written with keys of ours to recover
-                        //  post-backup change.
-
-                        // Reserve a new key pair from key pool
-                        CPubKey vchPubKey;
-                        bool ret;
-                        ret = reservekey.GetReservedKey(vchPubKey, true);
-                        if (!ret)
-                        {
-                            strFailReason = _("Keypool ran out, please call keypoolrefill first");
-                            return false;
-                        }
-
-                        scriptChange = GetScriptForDestination(vchPubKey.GetID());
-                    }
-
                     CTxOut newTxOut(nChange, scriptChange);
 
                     // Never create dust outputs; if we would, just
@@ -2666,7 +2667,6 @@ bool CWallet::CreateTransaction(const std::vector<CRecipient>& vecSend, CWalletT
                     {
                         nChangePosInOut = -1;
                         nFeeRet += nChange;
-                        reservekey.ReturnKey();
                     }
                     else
                     {
@@ -2685,7 +2685,6 @@ bool CWallet::CreateTransaction(const std::vector<CRecipient>& vecSend, CWalletT
                         txNew.vout.insert(position, newTxOut);
                     }
                 } else {
-                    reservekey.ReturnKey();
                     nChangePosInOut = -1;
                 }
 
@@ -2777,6 +2776,8 @@ bool CWallet::CreateTransaction(const std::vector<CRecipient>& vecSend, CWalletT
             }
         }
 
+        if (nChangePosInOut == -1) reservekey.ReturnKey(); // Return any reserved key if we don't have change
+
         if (sign)
         {
             CTransaction txNewConst(txNew);