diff --git a/src/wallet/wallet.cpp b/src/wallet/wallet.cpp
index ee1894501c..cb81ec37f5 100644
--- a/src/wallet/wallet.cpp
+++ b/src/wallet/wallet.cpp
@@ -4114,6 +4114,11 @@ int CMerkleTx::GetBlocksToMaturity() const
 
 bool CWalletTx::AcceptToMemoryPool(const CAmount& nAbsurdFee, CValidationState& state)
 {
+    // Quick check to avoid re-setting fInMempool to false
+    if (mempool.exists(tx->GetHash())) {
+        return false;
+    }
+
     // We must set fInMempool here - while it will be re-set to true by the
     // entered-mempool callback, if we did not there would be a race where a
     // user could call sendmoney in a loop and hit spurious out of funds errors