diff --git a/gui/gui_classic.py b/gui/gui_classic.py
index 83c670e4..0fc51672 100644
--- a/gui/gui_classic.py
+++ b/gui/gui_classic.py
@@ -1454,22 +1454,31 @@ class ElectrumWindow(QMainWindow):
 
 
     def new_account_dialog(self):
-        text, ok = QInputDialog.getText(self, _('New Account'), _('Name') + ':')
-        if not ok or not text: 
-            return
-        name = unicode(text)
-        try:
-            self.create_new_account(name)
-        except:
-            QMessageBox.warning(self, _('Error'), _('Incorrect Password'), _('OK'))
+
+        dialog = QDialog(self)
+        dialog.setModal(1)
+        dialog.setWindowTitle(_("New Account"))
+
+        addr = self.wallet.new_account_address()
+        vbox = QVBoxLayout()
+        vbox.addWidget(QLabel("To add another account, please send bitcoins to the following address:"))
+        e = QLineEdit(addr)
+        e.setReadOnly(True)
+        vbox.addWidget(e)
+
+        ok_button = QPushButton(_("OK"))
+        ok_button.setDefault(True)
+        ok_button.clicked.connect(dialog.accept)
+
+        hbox = QHBoxLayout()
+        hbox.addStretch(1)
+        hbox.addWidget(ok_button)
+        vbox.addLayout(hbox)
+
+        dialog.setLayout(vbox)
+        dialog.exec_()
+
             
-    @protected
-    def create_new_account(self, name, password):
-        self.wallet.create_new_account(name, password)
-        self.wallet.synchronize()
-        self.update_receive_tab()
-        self.update_history_tab()
-        self.update_completions()
 
     def show_master_public_key(self):
         dialog = QDialog(self)
diff --git a/lib/account.py b/lib/account.py
index a2ef2d78..8cbca6ba 100644
--- a/lib/account.py
+++ b/lib/account.py
@@ -160,6 +160,9 @@ class BIP32_Account(Account):
         address = public_key_to_bc_address( pubkey.decode('hex') )
         return address
 
+    def first_address(self):
+        return self.get_address(0,0)
+
     def get_pubkey(self, for_change, n):
         K = self.K
         chain = self.c
diff --git a/lib/wallet.py b/lib/wallet.py
index 5b938e61..f536eaf5 100644
--- a/lib/wallet.py
+++ b/lib/wallet.py
@@ -90,6 +90,8 @@ class Wallet:
         self.master_public_keys = config.get('master_public_keys',{})
         self.master_private_keys = config.get('master_private_keys', {})
 
+        self.first_addresses = config.get('first_addresses',{})
+
         self.load_accounts(config)
 
         self.transactions = {}
@@ -204,7 +206,7 @@ class Wallet:
         self.config.set_key('master_private_keys', self.master_private_keys, True)
 
         # create default account
-        self.create_account('Main account')
+        self.create_account('1','Main account')
 
 
     def find_root_by_master_key(self, c, K):
@@ -229,7 +231,7 @@ class Wallet:
 
 
     def account_id(self, account_type, i):
-        if account_type is None:
+        if account_type == '1':
             return "m/0'/%d"%i
         elif account_type == '2of2':
             return "m/1'/%d & m/2'/%d"%(i,i)
@@ -249,11 +251,26 @@ class Wallet:
         return i
 
 
-    def create_account(self, name, account_type = None):
+    def new_account_address(self, account_type = '1'):
+        i = self.num_accounts(account_type)
+        k = self.account_id(account_type,i)
+
+        addr = self.first_addresses.get(k)
+        if not addr: 
+            account_id, account = self.next_account(account_type)
+            addr = account.first_address()
+            self.first_addresses[k] = addr
+            self.config.set_key('first_addresses',self.first_addresses)
+
+        return addr
+
+
+    def next_account(self, account_type = '1'):
+
         i = self.num_accounts(account_type)
         account_id = self.account_id(account_type,i)
 
-        if account_type is None:
+        if account_type is '1':
             master_c0, master_K0, _ = self.master_public_keys["m/0'/"]
             c0, K0, cK0 = bip32_public_derivation(master_c0.decode('hex'), master_K0.decode('hex'), "m/0'/", "m/0'/%d"%i)
             account = BIP32_Account({ 'c':c0, 'K':K0, 'cK':cK0 })
@@ -274,6 +291,11 @@ class Wallet:
             c5, K5, cK5 = bip32_public_derivation(master_c5.decode('hex'), master_K5.decode('hex'), "m/5'/", "m/5'/%d"%i)
             account = BIP32_Account_2of3({ 'c':c3, 'K':K3, 'cK':cK3, 'c2':c4, 'K2':K4, 'cK2':cK4, 'c3':c5, 'K3':K5, 'cK3':cK5 })
 
+        return account_id, account
+
+
+    def create_account(self, account_type = '1', name = 'unnamed'):
+        account_id, account = self.next_account(account_type)
         self.accounts[account_id] = account
         self.save_accounts()
         self.labels[account_id] = name
@@ -297,8 +319,6 @@ class Wallet:
                 self.accounts[k] = BIP32_Account(v)
 
 
-
-
     def addresses(self, include_change = True):
         o = self.get_account_addresses(-1, include_change)
         for a in self.accounts.keys():
@@ -309,6 +329,7 @@ class Wallet:
     def is_mine(self, address):
         return address in self.addresses(True)
 
+
     def is_change(self, address):
         if not self.is_mine(address): return False
         if address in self.imported_keys.keys(): return False
@@ -577,13 +598,25 @@ class Wallet:
         return new_addresses
         
 
+
+    def create_pending_accounts(self):
+
+        for account_type in ['1','2of2','2of3']:
+            a = self.new_account_address(account_type)
+            if self.address_is_old(a):
+                print "creating account", a
+                self.create_account(account_type)
+
+
     def synchronize_account(self, account):
         new = []
         new += self.synchronize_sequence(account, 0)
         new += self.synchronize_sequence(account, 1)
         return new
 
+
     def synchronize(self):
+        self.create_pending_accounts()
         new = []
         for account in self.accounts.values():
             new += self.synchronize_account(account)