diff --git a/src/policy/fees.cpp b/src/policy/fees.cpp
index 771491770..c39a2d55c 100644
--- a/src/policy/fees.cpp
+++ b/src/policy/fees.cpp
@@ -36,6 +36,20 @@ std::string StringForFeeReason(FeeReason reason) {
     return reason_string->second;
 }
 
+bool FeeModeFromString(const std::string& mode_string, FeeEstimateMode& fee_estimate_mode) {
+    static const std::map<std::string, FeeEstimateMode> fee_modes = {
+        {"UNSET", FeeEstimateMode::UNSET},
+        {"ECONOMICAL", FeeEstimateMode::ECONOMICAL},
+        {"CONSERVATIVE", FeeEstimateMode::CONSERVATIVE},
+    };
+    auto mode = fee_modes.find(mode_string);
+
+    if (mode == fee_modes.end()) return false;
+
+    fee_estimate_mode = mode->second;
+    return true;
+}
+
 /**
  * We will instantiate an instance of this class to track transactions that were
  * included in a block. We will lump transactions into a bucket according to their
diff --git a/src/policy/fees.h b/src/policy/fees.h
index 2029ce374..fea279e47 100644
--- a/src/policy/fees.h
+++ b/src/policy/fees.h
@@ -90,6 +90,15 @@ enum class FeeReason {
 
 std::string StringForFeeReason(FeeReason reason);
 
+/* Used to determine type of fee estimation requested */
+enum class FeeEstimateMode {
+    UNSET,        //! Use default settings based on other criteria
+    ECONOMICAL,   //! Force estimateSmartFee to use non-conservative estimates
+    CONSERVATIVE, //! Force estimateSmartFee to use conservative estimates
+};
+
+bool FeeModeFromString(const std::string& mode_string, FeeEstimateMode& fee_estimate_mode);
+
 /* Used to return detailed information about a feerate bucket */
 struct EstimatorBucket
 {
@@ -197,7 +206,7 @@ public:
      *  the closest target where one can be given.  'conservative' estimates are
      *  valid over longer time horizons also.
      */
-    CFeeRate estimateSmartFee(int confTarget, FeeCalculation *feeCalc, const CTxMemPool& pool, bool conservative = true) const;
+    CFeeRate estimateSmartFee(int confTarget, FeeCalculation *feeCalc, const CTxMemPool& pool, bool conservative) const;
 
     /** Return a specific fee estimate calculation with a given success
      * threshold and time horizon, and optionally return detailed data about
diff --git a/src/qt/coincontroldialog.cpp b/src/qt/coincontroldialog.cpp
index af9a888d9..c19420beb 100644
--- a/src/qt/coincontroldialog.cpp
+++ b/src/qt/coincontroldialog.cpp
@@ -490,6 +490,8 @@ void CoinControlDialog::updateLabels(WalletModel *model, QDialog* dialog)
         else nBytesInputs += 148;
     }
 
+    bool conservative_estimate = CalculateEstimateType(FeeEstimateMode::UNSET, coinControl->signalRbf);
+
     // calculation
     if (nQuantity > 0)
     {
@@ -510,7 +512,7 @@ void CoinControlDialog::updateLabels(WalletModel *model, QDialog* dialog)
                 nBytes -= 34;
 
         // Fee
-        nPayFee = CWallet::GetMinimumFee(nBytes, coinControl->nConfirmTarget, ::mempool, ::feeEstimator);
+        nPayFee = CWallet::GetMinimumFee(nBytes, coinControl->nConfirmTarget, ::mempool, ::feeEstimator, nullptr /* FeeCalculation */, false /* ignoreGlobalPayTxFee */, conservative_estimate);
 
         if (nPayAmount > 0)
         {
@@ -585,7 +587,7 @@ void CoinControlDialog::updateLabels(WalletModel *model, QDialog* dialog)
     if (payTxFee.GetFeePerK() > 0)
         dFeeVary = (double)std::max(CWallet::GetRequiredFee(1000), payTxFee.GetFeePerK()) / 1000;
     else {
-        dFeeVary = (double)std::max(CWallet::GetRequiredFee(1000), ::feeEstimator.estimateSmartFee(coinControl->nConfirmTarget, NULL, ::mempool).GetFeePerK()) / 1000;
+        dFeeVary = (double)std::max(CWallet::GetRequiredFee(1000), ::feeEstimator.estimateSmartFee(coinControl->nConfirmTarget, NULL, ::mempool, conservative_estimate).GetFeePerK()) / 1000;
     }
     QString toolTip4 = tr("Can vary +/- %1 satoshi(s) per input.").arg(dFeeVary);
 
diff --git a/src/qt/sendcoinsdialog.cpp b/src/qt/sendcoinsdialog.cpp
index 12d2d0f31..27634eb17 100644
--- a/src/qt/sendcoinsdialog.cpp
+++ b/src/qt/sendcoinsdialog.cpp
@@ -166,6 +166,8 @@ void SendCoinsDialog::setModel(WalletModel *_model)
         connect(ui->checkBoxMinimumFee, SIGNAL(stateChanged(int)), this, SLOT(updateFeeSectionControls()));
         connect(ui->checkBoxMinimumFee, SIGNAL(stateChanged(int)), this, SLOT(updateGlobalFeeVariables()));
         connect(ui->checkBoxMinimumFee, SIGNAL(stateChanged(int)), this, SLOT(coinControlUpdateLabels()));
+        connect(ui->optInRBF, SIGNAL(stateChanged(int)), this, SLOT(updateSmartFeeLabel()));
+        connect(ui->optInRBF, SIGNAL(stateChanged(int)), this, SLOT(coinControlUpdateLabels()));
         ui->customFee->setSingleStep(CWallet::GetRequiredFee(1000));
         updateFeeSectionControls();
         updateMinFeeLabel();
@@ -652,7 +654,8 @@ void SendCoinsDialog::updateSmartFeeLabel()
 
     int nBlocksToConfirm = ui->sliderSmartFee->maximum() - ui->sliderSmartFee->value() + 2;
     FeeCalculation feeCalc;
-    CFeeRate feeRate = ::feeEstimator.estimateSmartFee(nBlocksToConfirm, &feeCalc, ::mempool);
+    bool conservative_estimate = CalculateEstimateType(FeeEstimateMode::UNSET, ui->optInRBF->isChecked());
+    CFeeRate feeRate = ::feeEstimator.estimateSmartFee(nBlocksToConfirm, &feeCalc, ::mempool, conservative_estimate);
     if (feeRate <= CFeeRate(0)) // not enough data => minfee
     {
         ui->labelSmartFee->setText(BitcoinUnits::formatWithUnit(model->getOptionsModel()->getDisplayUnit(),
@@ -827,6 +830,7 @@ void SendCoinsDialog::coinControlUpdateLabels()
     } else {
         CoinControlDialog::coinControl->nConfirmTarget = model->getDefaultConfirmTarget();
     }
+    CoinControlDialog::coinControl->signalRbf = ui->optInRBF->isChecked();
 
     for(int i = 0; i < ui->entries->count(); ++i)
     {
diff --git a/src/qt/walletmodel.cpp b/src/qt/walletmodel.cpp
index 7eff783fe..60b55da3e 100644
--- a/src/qt/walletmodel.cpp
+++ b/src/qt/walletmodel.cpp
@@ -19,6 +19,7 @@
 #include "keystore.h"
 #include "validation.h"
 #include "net.h" // for g_connman
+#include "policy/fees.h"
 #include "policy/rbf.h"
 #include "sync.h"
 #include "ui_interface.h"
@@ -667,7 +668,7 @@ bool WalletModel::bumpFee(uint256 hash)
     std::unique_ptr<CFeeBumper> feeBump;
     {
         LOCK2(cs_main, wallet->cs_wallet);
-        feeBump.reset(new CFeeBumper(wallet, hash, nTxConfirmTarget, false, 0, true));
+        feeBump.reset(new CFeeBumper(wallet, hash, nTxConfirmTarget, false, 0, true, FeeEstimateMode::UNSET));
     }
     if (feeBump->getResult() != BumpFeeResult::OK)
     {
diff --git a/src/rpc/client.cpp b/src/rpc/client.cpp
index 8fac8af3e..278c4ecc2 100644
--- a/src/rpc/client.cpp
+++ b/src/rpc/client.cpp
@@ -37,6 +37,8 @@ static const CRPCConvertParam vRPCConvertParams[] =
     { "getnetworkhashps", 1, "height" },
     { "sendtoaddress", 1, "amount" },
     { "sendtoaddress", 4, "subtractfeefromamount" },
+    { "sendtoaddress", 5 , "replaceable" },
+    { "sendtoaddress", 6 , "conf_target" },
     { "settxfee", 0, "amount" },
     { "getreceivedbyaddress", 1, "minconf" },
     { "getreceivedbyaccount", 1, "minconf" },
@@ -69,6 +71,8 @@ static const CRPCConvertParam vRPCConvertParams[] =
     { "sendmany", 1, "amounts" },
     { "sendmany", 2, "minconf" },
     { "sendmany", 4, "subtractfeefrom" },
+    { "sendmany", 5 , "replaceable" },
+    { "sendmany", 6 , "conf_target" },
     { "addmultisigaddress", 0, "nrequired" },
     { "addmultisigaddress", 1, "keys" },
     { "createmultisig", 0, "nrequired" },
diff --git a/src/test/policyestimator_tests.cpp b/src/test/policyestimator_tests.cpp
index 6bfd31564..8cdd39210 100644
--- a/src/test/policyestimator_tests.cpp
+++ b/src/test/policyestimator_tests.cpp
@@ -184,8 +184,8 @@ BOOST_AUTO_TEST_CASE(BlockPolicyEstimates)
     mpool.TrimToSize(1);
     BOOST_CHECK(mpool.GetMinFee(1).GetFeePerK() > feeV[5]);
     for (int i = 1; i < 10; i++) {
-        BOOST_CHECK(feeEst.estimateSmartFee(i, NULL, mpool).GetFeePerK() >= feeEst.estimateRawFee(i, 0.85, FeeEstimateHorizon::MED_HALFLIFE).GetFeePerK());
-        BOOST_CHECK(feeEst.estimateSmartFee(i, NULL, mpool).GetFeePerK() >= mpool.GetMinFee(1).GetFeePerK());
+        BOOST_CHECK(feeEst.estimateSmartFee(i, NULL, mpool, true).GetFeePerK() >= feeEst.estimateRawFee(i, 0.85, FeeEstimateHorizon::MED_HALFLIFE).GetFeePerK());
+        BOOST_CHECK(feeEst.estimateSmartFee(i, NULL, mpool, true).GetFeePerK() >= mpool.GetMinFee(1).GetFeePerK());
     }
 }
 
diff --git a/src/wallet/coincontrol.h b/src/wallet/coincontrol.h
index cb4719ae9..bdd01bec1 100644
--- a/src/wallet/coincontrol.h
+++ b/src/wallet/coincontrol.h
@@ -6,6 +6,7 @@
 #define BITCOIN_WALLET_COINCONTROL_H
 
 #include "policy/feerate.h"
+#include "policy/fees.h"
 #include "primitives/transaction.h"
 #include "wallet/wallet.h"
 
@@ -26,6 +27,8 @@ public:
     int nConfirmTarget;
     //! Signal BIP-125 replace by fee.
     bool signalRbf;
+    //! Fee estimation mode to control arguments to estimateSmartFee
+    FeeEstimateMode m_fee_mode;
 
     CCoinControl()
     {
@@ -42,6 +45,7 @@ public:
         fOverrideFeeRate = false;
         nConfirmTarget = 0;
         signalRbf = fWalletRbf;
+        m_fee_mode = FeeEstimateMode::UNSET;
     }
 
     bool HasSelected() const
diff --git a/src/wallet/feebumper.cpp b/src/wallet/feebumper.cpp
index 6a9e6cf9f..607ecf418 100644
--- a/src/wallet/feebumper.cpp
+++ b/src/wallet/feebumper.cpp
@@ -66,7 +66,7 @@ bool CFeeBumper::preconditionChecks(const CWallet *pWallet, const CWalletTx& wtx
     return true;
 }
 
-CFeeBumper::CFeeBumper(const CWallet *pWallet, const uint256 txidIn, int newConfirmTarget, bool ignoreGlobalPayTxFee, CAmount totalFee, bool newTxReplaceable)
+CFeeBumper::CFeeBumper(const CWallet *pWallet, const uint256 txidIn, int newConfirmTarget, bool ignoreGlobalPayTxFee, CAmount totalFee, bool newTxReplaceable, FeeEstimateMode fee_mode)
     :
     txid(std::move(txidIn)),
     nOldFee(0),
@@ -165,7 +165,8 @@ CFeeBumper::CFeeBumper(const CWallet *pWallet, const uint256 txidIn, int newConf
         nNewFee = totalFee;
         nNewFeeRate = CFeeRate(totalFee, maxNewTxSize);
     } else {
-        nNewFee = CWallet::GetMinimumFee(maxNewTxSize, newConfirmTarget, mempool, ::feeEstimator, nullptr, ignoreGlobalPayTxFee);
+        bool conservative_estimate = CalculateEstimateType(fee_mode, newTxReplaceable);
+        nNewFee = CWallet::GetMinimumFee(maxNewTxSize, newConfirmTarget, mempool, ::feeEstimator, nullptr /* FeeCalculation */, ignoreGlobalPayTxFee, conservative_estimate);
         nNewFeeRate = CFeeRate(nNewFee, maxNewTxSize);
 
         // New fee rate must be at least old rate + minimum incremental relay rate
diff --git a/src/wallet/feebumper.h b/src/wallet/feebumper.h
index fc3231670..11e2f5f95 100644
--- a/src/wallet/feebumper.h
+++ b/src/wallet/feebumper.h
@@ -10,6 +10,7 @@
 class CWallet;
 class CWalletTx;
 class uint256;
+enum class FeeEstimateMode;
 
 enum class BumpFeeResult
 {
@@ -24,7 +25,7 @@ enum class BumpFeeResult
 class CFeeBumper
 {
 public:
-    CFeeBumper(const CWallet *pWalletIn, const uint256 txidIn, int newConfirmTarget, bool ignoreGlobalPayTxFee, CAmount totalFee, bool newTxReplaceable);
+    CFeeBumper(const CWallet *pWalletIn, const uint256 txidIn, int newConfirmTarget, bool ignoreGlobalPayTxFee, CAmount totalFee, bool newTxReplaceable, FeeEstimateMode fee_mode);
     BumpFeeResult getResult() const { return currentResult; }
     const std::vector<std::string>& getErrors() const { return vErrors; }
     CAmount getOldFee() const { return nOldFee; }
diff --git a/src/wallet/rpcwallet.cpp b/src/wallet/rpcwallet.cpp
index 867ccd424..5f72e3b6f 100644
--- a/src/wallet/rpcwallet.cpp
+++ b/src/wallet/rpcwallet.cpp
@@ -356,7 +356,7 @@ UniValue getaddressesbyaccount(const JSONRPCRequest& request)
     return ret;
 }
 
-static void SendMoney(CWallet * const pwallet, const CTxDestination &address, CAmount nValue, bool fSubtractFeeFromAmount, CWalletTx& wtxNew)
+static void SendMoney(CWallet * const pwallet, const CTxDestination &address, CAmount nValue, bool fSubtractFeeFromAmount, CWalletTx& wtxNew, CCoinControl *coin_control = nullptr)
 {
     CAmount curBalance = pwallet->GetBalance();
 
@@ -382,7 +382,7 @@ static void SendMoney(CWallet * const pwallet, const CTxDestination &address, CA
     int nChangePosRet = -1;
     CRecipient recipient = {scriptPubKey, nValue, fSubtractFeeFromAmount};
     vecSend.push_back(recipient);
-    if (!pwallet->CreateTransaction(vecSend, wtxNew, reservekey, nFeeRequired, nChangePosRet, strError)) {
+    if (!pwallet->CreateTransaction(vecSend, wtxNew, reservekey, nFeeRequired, nChangePosRet, strError, coin_control)) {
         if (!fSubtractFeeFromAmount && nValue + nFeeRequired > curBalance)
             strError = strprintf("Error: This transaction requires a transaction fee of at least %s", FormatMoney(nFeeRequired));
         throw JSONRPCError(RPC_WALLET_ERROR, strError);
@@ -401,9 +401,9 @@ UniValue sendtoaddress(const JSONRPCRequest& request)
         return NullUniValue;
     }
 
-    if (request.fHelp || request.params.size() < 2 || request.params.size() > 5)
+    if (request.fHelp || request.params.size() < 2 || request.params.size() > 8)
         throw std::runtime_error(
-            "sendtoaddress \"address\" amount ( \"comment\" \"comment_to\" subtractfeefromamount )\n"
+            "sendtoaddress \"address\" amount ( \"comment\" \"comment_to\" subtractfeefromamount replaceable conf_target \"estimate_mode\")\n"
             "\nSend an amount to a given address.\n"
             + HelpRequiringPassphrase(pwallet) +
             "\nArguments:\n"
@@ -416,6 +416,12 @@ UniValue sendtoaddress(const JSONRPCRequest& request)
             "                             transaction, just kept in your wallet.\n"
             "5. subtractfeefromamount  (boolean, optional, default=false) The fee will be deducted from the amount being sent.\n"
             "                             The recipient will receive less bitcoins than you enter in the amount field.\n"
+            "6. replaceable            (boolean, optional) Allow this transaction to be replaced by a transaction with higher fees via BIP 125\n"
+            "7. conf_target            (numeric, optional) Confirmation target (in blocks)\n"
+            "8. \"estimate_mode\"      (string, optional, default=UNSET) The fee estimate mode, must be one of:\n"
+            "       \"UNSET\"\n"
+            "       \"ECONOMICAL\"\n"
+            "       \"CONSERVATIVE\"\n"
             "\nResult:\n"
             "\"txid\"                  (string) The transaction id.\n"
             "\nExamples:\n"
@@ -444,12 +450,29 @@ UniValue sendtoaddress(const JSONRPCRequest& request)
         wtx.mapValue["to"]      = request.params[3].get_str();
 
     bool fSubtractFeeFromAmount = false;
-    if (request.params.size() > 4)
+    if (request.params.size() > 4 && !request.params[4].isNull()) {
         fSubtractFeeFromAmount = request.params[4].get_bool();
+    }
+
+    CCoinControl coin_control;
+    if (request.params.size() > 5 && !request.params[5].isNull()) {
+        coin_control.signalRbf = request.params[5].get_bool();
+    }
+
+    if (request.params.size() > 6 && !request.params[6].isNull()) {
+        coin_control.nConfirmTarget = request.params[6].get_int();
+    }
+
+    if (request.params.size() > 7 && !request.params[7].isNull()) {
+        if (!FeeModeFromString(request.params[7].get_str(), coin_control.m_fee_mode)) {
+            throw JSONRPCError(RPC_INVALID_PARAMETER, "Invalid estimate_mode parameter");
+        }
+    }
+
 
     EnsureWalletIsUnlocked(pwallet);
 
-    SendMoney(pwallet, address.Get(), nAmount, fSubtractFeeFromAmount, wtx);
+    SendMoney(pwallet, address.Get(), nAmount, fSubtractFeeFromAmount, wtx, &coin_control);
 
     return wtx.GetHash().GetHex();
 }
@@ -888,9 +911,9 @@ UniValue sendmany(const JSONRPCRequest& request)
         return NullUniValue;
     }
 
-    if (request.fHelp || request.params.size() < 2 || request.params.size() > 5)
+    if (request.fHelp || request.params.size() < 2 || request.params.size() > 8)
         throw std::runtime_error(
-            "sendmany \"fromaccount\" {\"address\":amount,...} ( minconf \"comment\" [\"address\",...] )\n"
+            "sendmany \"fromaccount\" {\"address\":amount,...} ( minconf \"comment\" [\"address\",...] replaceable conf_target \"estimate_mode\")\n"
             "\nSend multiple times. Amounts are double-precision floating point numbers."
             + HelpRequiringPassphrase(pwallet) + "\n"
             "\nArguments:\n"
@@ -910,7 +933,13 @@ UniValue sendmany(const JSONRPCRequest& request)
             "      \"address\"          (string) Subtract fee from this address\n"
             "      ,...\n"
             "    ]\n"
-            "\nResult:\n"
+            "6. replaceable            (boolean, optional) Allow this transaction to be replaced by a transaction with higher fees via BIP 125\n"
+            "7. conf_target            (numeric, optional) Confirmation target (in blocks)\n"
+            "8. \"estimate_mode\"      (string, optional, default=UNSET) The fee estimate mode, must be one of:\n"
+            "       \"UNSET\"\n"
+            "       \"ECONOMICAL\"\n"
+            "       \"CONSERVATIVE\"\n"
+             "\nResult:\n"
             "\"txid\"                   (string) The transaction id for the send. Only 1 transaction is created regardless of \n"
             "                                    the number of addresses.\n"
             "\nExamples:\n"
@@ -942,9 +971,24 @@ UniValue sendmany(const JSONRPCRequest& request)
         wtx.mapValue["comment"] = request.params[3].get_str();
 
     UniValue subtractFeeFromAmount(UniValue::VARR);
-    if (request.params.size() > 4)
+    if (request.params.size() > 4 && !request.params[4].isNull())
         subtractFeeFromAmount = request.params[4].get_array();
 
+    CCoinControl coin_control;
+    if (request.params.size() > 5 && !request.params[5].isNull()) {
+        coin_control.signalRbf = request.params[5].get_bool();
+    }
+
+    if (request.params.size() > 6 && !request.params[6].isNull()) {
+        coin_control.nConfirmTarget = request.params[6].get_int();
+    }
+
+    if (request.params.size() > 7 && !request.params[7].isNull()) {
+        if (!FeeModeFromString(request.params[7].get_str(), coin_control.m_fee_mode)) {
+            throw JSONRPCError(RPC_INVALID_PARAMETER, "Invalid estimate_mode parameter");
+        }
+    }
+
     std::set<CBitcoinAddress> setAddress;
     std::vector<CRecipient> vecSend;
 
@@ -989,7 +1033,7 @@ UniValue sendmany(const JSONRPCRequest& request)
     CAmount nFeeRequired = 0;
     int nChangePosRet = -1;
     std::string strFailReason;
-    bool fCreated = pwallet->CreateTransaction(vecSend, wtx, keyChange, nFeeRequired, nChangePosRet, strFailReason);
+    bool fCreated = pwallet->CreateTransaction(vecSend, wtx, keyChange, nFeeRequired, nChangePosRet, strFailReason, &coin_control);
     if (!fCreated)
         throw JSONRPCError(RPC_WALLET_INSUFFICIENT_FUNDS, strFailReason);
     CValidationState state;
@@ -2658,6 +2702,11 @@ UniValue fundrawtransaction(const JSONRPCRequest& request)
                             "                                  [vout_index,...]\n"
                             "     \"replaceable\"            (boolean, optional) Marks this transaction as BIP125 replaceable.\n"
                             "                              Allows this transaction to be replaced by a transaction with higher fees\n"
+                            "     \"conf_target\"            (numeric, optional) Confirmation target (in blocks)\n"
+                            "     \"estimate_mode\"          (string, optional, default=UNSET) The fee estimate mode, must be one of:\n"
+                            "         \"UNSET\"\n"
+                            "         \"ECONOMICAL\"\n"
+                            "         \"CONSERVATIVE\"\n"
                             "   }\n"
                             "                         for backward compatibility: passing in a true instead of an object will result in {\"includeWatching\":true}\n"
                             "\nResult:\n"
@@ -2710,6 +2759,8 @@ UniValue fundrawtransaction(const JSONRPCRequest& request)
                 {"feeRate", UniValueType()}, // will be checked below
                 {"subtractFeeFromOutputs", UniValueType(UniValue::VARR)},
                 {"replaceable", UniValueType(UniValue::VBOOL)},
+                {"conf_target", UniValueType(UniValue::VNUM)},
+                {"estimate_mode", UniValueType(UniValue::VSTR)},
             },
             true, true);
 
@@ -2746,6 +2797,14 @@ UniValue fundrawtransaction(const JSONRPCRequest& request)
         if (options.exists("replaceable")) {
             coinControl.signalRbf = options["replaceable"].get_bool();
         }
+        if (options.exists("conf_target")) {
+            coinControl.nConfirmTarget = options["conf_target"].get_int();
+        }
+        if (options.exists("estimate_mode")) {
+            if (!FeeModeFromString(options["estimate_mode"].get_str(), coinControl.m_fee_mode)) {
+                throw JSONRPCError(RPC_INVALID_PARAMETER, "Invalid estimate_mode parameter");
+            }
+        }
       }
     }
 
@@ -2823,6 +2882,10 @@ UniValue bumpfee(const JSONRPCRequest& request)
             "                         so the new transaction will not be explicitly bip-125 replaceable (though it may\n"
             "                         still be replaceable in practice, for example if it has unconfirmed ancestors which\n"
             "                         are replaceable).\n"
+            "     \"estimate_mode\"     (string, optional, default=UNSET) The fee estimate mode, must be one of:\n"
+            "         \"UNSET\"\n"
+            "         \"ECONOMICAL\"\n"
+            "         \"CONSERVATIVE\"\n"
             "   }\n"
             "\nResult:\n"
             "{\n"
@@ -2845,6 +2908,7 @@ UniValue bumpfee(const JSONRPCRequest& request)
     int newConfirmTarget = nTxConfirmTarget;
     CAmount totalFee = 0;
     bool replaceable = true;
+    FeeEstimateMode fee_mode = FeeEstimateMode::UNSET;
     if (request.params.size() > 1) {
         UniValue options = request.params[1];
         RPCTypeCheckObj(options,
@@ -2852,6 +2916,7 @@ UniValue bumpfee(const JSONRPCRequest& request)
                 {"confTarget", UniValueType(UniValue::VNUM)},
                 {"totalFee", UniValueType(UniValue::VNUM)},
                 {"replaceable", UniValueType(UniValue::VBOOL)},
+                {"estimate_mode", UniValueType(UniValue::VSTR)},
             },
             true, true);
 
@@ -2876,12 +2941,17 @@ UniValue bumpfee(const JSONRPCRequest& request)
         if (options.exists("replaceable")) {
             replaceable = options["replaceable"].get_bool();
         }
+        if (options.exists("estimate_mode")) {
+            if (!FeeModeFromString(options["estimate_mode"].get_str(), fee_mode)) {
+                throw JSONRPCError(RPC_INVALID_PARAMETER, "Invalid estimate_mode parameter");
+            }
+        }
     }
 
     LOCK2(cs_main, pwallet->cs_wallet);
     EnsureWalletIsUnlocked(pwallet);
 
-    CFeeBumper feeBump(pwallet, hash, newConfirmTarget, ignoreGlobalPayTxFee, totalFee, replaceable);
+    CFeeBumper feeBump(pwallet, hash, newConfirmTarget, ignoreGlobalPayTxFee, totalFee, replaceable, fee_mode);
     BumpFeeResult res = feeBump.getResult();
     if (res != BumpFeeResult::OK)
     {
@@ -3023,8 +3093,8 @@ static const CRPCCommand commands[] =
     { "wallet",             "lockunspent",              &lockunspent,              true,   {"unlock","transactions"} },
     { "wallet",             "move",                     &movecmd,                  false,  {"fromaccount","toaccount","amount","minconf","comment"} },
     { "wallet",             "sendfrom",                 &sendfrom,                 false,  {"fromaccount","toaddress","amount","minconf","comment","comment_to"} },
-    { "wallet",             "sendmany",                 &sendmany,                 false,  {"fromaccount","amounts","minconf","comment","subtractfeefrom"} },
-    { "wallet",             "sendtoaddress",            &sendtoaddress,            false,  {"address","amount","comment","comment_to","subtractfeefromamount"} },
+    { "wallet",             "sendmany",                 &sendmany,                 false,  {"fromaccount","amounts","minconf","comment","subtractfeefrom","replaceable","conf_target","estimate_mode"} },
+    { "wallet",             "sendtoaddress",            &sendtoaddress,            false,  {"address","amount","comment","comment_to","subtractfeefromamount","replaceable","conf_target","estimate_mode"} },
     { "wallet",             "setaccount",               &setaccount,               true,   {"address","account"} },
     { "wallet",             "settxfee",                 &settxfee,                 true,   {"amount"} },
     { "wallet",             "signmessage",              &signmessage,              true,   {"address","message"} },
diff --git a/src/wallet/wallet.cpp b/src/wallet/wallet.cpp
index f5d9b33ac..a1b4eb106 100644
--- a/src/wallet/wallet.cpp
+++ b/src/wallet/wallet.cpp
@@ -2724,7 +2724,10 @@ bool CWallet::CreateTransaction(const std::vector<CRecipient>& vecSend, CWalletT
                 if (coinControl && coinControl->nConfirmTarget > 0)
                     currentConfirmationTarget = coinControl->nConfirmTarget;
 
-                CAmount nFeeNeeded = GetMinimumFee(nBytes, currentConfirmationTarget, ::mempool, ::feeEstimator, &feeCalc);
+                // Allow to override the default fee estimate mode over the CoinControl instance
+                bool conservative_estimate = CalculateEstimateType(coinControl ? coinControl->m_fee_mode : FeeEstimateMode::UNSET, rbf);
+
+                CAmount nFeeNeeded = GetMinimumFee(nBytes, currentConfirmationTarget, ::mempool, ::feeEstimator, &feeCalc, false /* ignoreGlobalPayTxFee */, conservative_estimate);
                 if (coinControl && coinControl->fOverrideFeeRate)
                     nFeeNeeded = coinControl->nFeeRate.GetFee(nBytes);
 
@@ -2905,13 +2908,13 @@ CAmount CWallet::GetRequiredFee(unsigned int nTxBytes)
     return std::max(minTxFee.GetFee(nTxBytes), ::minRelayTxFee.GetFee(nTxBytes));
 }
 
-CAmount CWallet::GetMinimumFee(unsigned int nTxBytes, unsigned int nConfirmTarget, const CTxMemPool& pool, const CBlockPolicyEstimator& estimator, FeeCalculation *feeCalc, bool ignoreGlobalPayTxFee)
+CAmount CWallet::GetMinimumFee(unsigned int nTxBytes, unsigned int nConfirmTarget, const CTxMemPool& pool, const CBlockPolicyEstimator& estimator, FeeCalculation *feeCalc, bool ignoreGlobalPayTxFee, bool conservative_estimate)
 {
     // payTxFee is the user-set global for desired feerate
     CAmount nFeeNeeded = payTxFee.GetFee(nTxBytes);
     // User didn't set: use -txconfirmtarget to estimate...
     if (nFeeNeeded == 0 || ignoreGlobalPayTxFee) {
-        nFeeNeeded = estimator.estimateSmartFee(nConfirmTarget, feeCalc, pool, true).GetFee(nTxBytes);
+        nFeeNeeded = estimator.estimateSmartFee(nConfirmTarget, feeCalc, pool, conservative_estimate).GetFee(nTxBytes);
         // ... unless we don't have enough mempool data for estimatefee, then use fallbackFee
         if (nFeeNeeded == 0) {
             nFeeNeeded = fallbackFee.GetFee(nTxBytes);
@@ -4154,3 +4157,15 @@ bool CMerkleTx::AcceptToMemoryPool(const CAmount& nAbsurdFee, CValidationState&
 {
     return ::AcceptToMemoryPool(mempool, state, tx, true, NULL, NULL, false, nAbsurdFee);
 }
+
+bool CalculateEstimateType(FeeEstimateMode mode, bool opt_in_rbf) {
+    switch (mode) {
+    case FeeEstimateMode::UNSET:
+        return !opt_in_rbf; // Allow for lower fees if RBF is an option
+    case FeeEstimateMode::CONSERVATIVE:
+        return true;
+    case FeeEstimateMode::ECONOMICAL:
+        return false;
+    }
+    return true;
+}
diff --git a/src/wallet/wallet.h b/src/wallet/wallet.h
index 4f558adc7..e3715cdf3 100644
--- a/src/wallet/wallet.h
+++ b/src/wallet/wallet.h
@@ -80,6 +80,7 @@ class CTxMemPool;
 class CBlockPolicyEstimator;
 class CWalletTx;
 struct FeeCalculation;
+enum class FeeEstimateMode;
 
 /** (client) version numbers for particular wallet features */
 enum WalletFeature
@@ -963,7 +964,7 @@ public:
      * Estimate the minimum fee considering user set parameters
      * and the required fee
      */
-    static CAmount GetMinimumFee(unsigned int nTxBytes, unsigned int nConfirmTarget, const CTxMemPool& pool, const CBlockPolicyEstimator& estimator, FeeCalculation *feeCalc = nullptr, bool ignoreGlobalPayTxFee = false);
+    static CAmount GetMinimumFee(unsigned int nTxBytes, unsigned int nConfirmTarget, const CTxMemPool& pool, const CBlockPolicyEstimator& estimator, FeeCalculation *feeCalc, bool ignoreGlobalPayTxFee, bool conservative_estimate);
     /**
      * Return the minimum required fee taking into account the
      * floating relay fee and user set minimum transaction fee
@@ -1211,4 +1212,7 @@ bool CWallet::DummySignTx(CMutableTransaction &txNew, const ContainerType &coins
     }
     return true;
 }
+
+bool CalculateEstimateType(FeeEstimateMode mode, bool opt_in_rbf);
+
 #endif // BITCOIN_WALLET_WALLET_H