diff --git a/lib/wallet/account.js b/lib/wallet/account.js
index 44facf08..b3ce19e4 100644
--- a/lib/wallet/account.js
+++ b/lib/wallet/account.js
@@ -179,12 +179,12 @@ Account.prototype.fromOptions = function fromOptions(options) {
   if (this.n > 1)
     this.type = Account.types.MULTISIG;
 
-  if (this.m < 1 || this.m > this.n)
-    throw new Error('m ranges between 1 and n');
-
   if (!this.name)
     this.name = this.accountIndex + '';
 
+  if (this.m < 1 || this.m > this.n)
+    throw new Error('m ranges between 1 and n');
+
   if (options.keys) {
     assert(Array.isArray(options.keys));
     for (i = 0; i < options.keys.length; i++)
diff --git a/lib/wallet/wallet.js b/lib/wallet/wallet.js
index 5b9d6962..cb32ca19 100644
--- a/lib/wallet/wallet.js
+++ b/lib/wallet/wallet.js
@@ -95,10 +95,10 @@ Wallet.prototype.fromOptions = function fromOptions(options) {
   var master = options.master;
   var id, token;
 
-  if (!master)
-    master = HD.fromMnemonic(null, this.network);
-
   if (!MasterKey.isMasterKey(master)) {
+    if (!master)
+      master = HD.fromMnemonic(null, this.network);
+
     if (!HD.isHD(master))
       master = HD.from(master, this.network);
 
@@ -132,9 +132,6 @@ Wallet.prototype.fromOptions = function fromOptions(options) {
     this.accountDepth = options.accountDepth;
   }
 
-  if (!id)
-    id = this.getID();
-
   if (options.token) {
     assert(Buffer.isBuffer(options.token));
     assert(options.token.length === 32);
@@ -146,6 +143,9 @@ Wallet.prototype.fromOptions = function fromOptions(options) {
     this.tokenDepth = options.tokenDepth;
   }
 
+  if (!id)
+    id = this.getID();
+
   if (!token)
     token = this.getToken(this.master.key, this.tokenDepth);