diff --git a/app/Console/Commands/UpgradeDatabase.php b/app/Console/Commands/UpgradeDatabase.php
index dcaebf9050..6399df4adf 100644
--- a/app/Console/Commands/UpgradeDatabase.php
+++ b/app/Console/Commands/UpgradeDatabase.php
@@ -15,15 +15,20 @@ namespace FireflyIII\Console\Commands;
 
 
 use DB;
+use FireflyIII\Models\Account;
+use FireflyIII\Models\AccountMeta;
+use FireflyIII\Models\AccountType;
 use FireflyIII\Models\BudgetLimit;
 use FireflyIII\Models\LimitRepetition;
 use FireflyIII\Models\PiggyBankEvent;
 use FireflyIII\Models\Transaction;
+use FireflyIII\Models\TransactionCurrency;
 use FireflyIII\Models\TransactionJournal;
 use FireflyIII\Models\TransactionType;
 use Illuminate\Console\Command;
 use Illuminate\Database\QueryException;
 use Log;
+use Preferences;
 use Schema;
 
 /**
@@ -63,8 +68,13 @@ class UpgradeDatabase extends Command
         $this->setTransactionIdentifier();
         $this->migrateRepetitions();
         $this->repairPiggyBanks();
+        $this->updateAccountCurrencies();
+        $this->info('Firefly III database is up to date.');
     }
 
+    /**
+     *  Migrate budget repetitions to new format.
+     */
     private function migrateRepetitions()
     {
         if (!Schema::hasTable('budget_limits')) {
@@ -153,6 +163,57 @@ class UpgradeDatabase extends Command
         }
     }
 
+    /**
+     *
+     */
+    private function updateAccountCurrencies()
+    {
+        $accounts = Account::leftJoin('account_types', 'account_types.id', '=', 'accounts.account_type_id')
+                           ->whereIn('account_types.type', [AccountType::DEFAULT, AccountType::ASSET])->get(['accounts.*']);
+
+        /** @var Account $account */
+        foreach ($accounts as $account) {
+            // get users preference, fall back to system pref.
+            $defaultCurrencyCode    = Preferences::getForUser($account->user, 'currencyPreference', config('firefly.default_currency', 'EUR'))->data;
+            $defaultCurrency        = TransactionCurrency::where('code', $defaultCurrencyCode)->first();
+            $accountCurrency        = intval($account->getMeta('currency_id'));
+            $openingBalance         = $account->getOpeningBalance();
+            $openingBalanceCurrency = intval($openingBalance->transaction_currency_id);
+
+            // both 0? set to default currency:
+            if ($accountCurrency === 0 && $openingBalanceCurrency === 0) {
+                AccountMeta::create(['account_id' => $account->id, 'name' => 'currency_id', 'data' => $defaultCurrency->id]);
+                $this->line(sprintf('Account #%d ("%s") now has a currency setting (%s).', $account->id, $account->name, $defaultCurrencyCode));
+                continue;
+            }
+
+            // opening balance 0, account not zero? just continue:
+            if ($accountCurrency > 0 && $openingBalanceCurrency === 0) {
+                continue;
+            }
+            // account is set to 0, opening balance is not?
+            if ($accountCurrency === 0 && $openingBalanceCurrency > 0) {
+                AccountMeta::create(['account_id' => $account->id, 'name' => 'currency_id', 'data' => $openingBalanceCurrency]);
+                $this->line(sprintf('Account #%d ("%s") now has a currency setting (%s).', $account->id, $account->name, $defaultCurrencyCode));
+                continue;
+            }
+
+            // both are equal, just continue:
+            if ($accountCurrency === $openingBalanceCurrency) {
+                continue;
+            }
+            // do not match:
+            if ($accountCurrency !== $openingBalanceCurrency) {
+                // update opening balance:
+                $openingBalance->transaction_currency_id = $accountCurrency;
+                $openingBalance->save();
+                $this->line(sprintf('Account #%d ("%s") now has a correct currency for opening balance.', $account->id, $account->name));
+                continue;
+            }
+        }
+
+    }
+
     /**
      * grab all positive transactiosn from this journal that are not deleted. for each one, grab the negative opposing one
      * which has 0 as an identifier and give it the same identifier.
diff --git a/app/Http/Controllers/AccountController.php b/app/Http/Controllers/AccountController.php
index 83098c0fb6..633b8804b8 100644
--- a/app/Http/Controllers/AccountController.php
+++ b/app/Http/Controllers/AccountController.php
@@ -147,14 +147,14 @@ class AccountController extends Controller
      */
     public function edit(Request $request, Account $account)
     {
-
-        $what         = config('firefly.shortNamesByFullName')[$account->accountType->type];
-        $subTitle     = trans('firefly.edit_' . $what . '_account', ['name' => $account->name]);
-        $subTitleIcon = config('firefly.subIconsByIdentifier.' . $what);
         /** @var CurrencyRepositoryInterface $repository */
-        $repository = app(CurrencyRepositoryInterface::class);
-        $currencies = ExpandedForm::makeSelectList($repository->get());
-        $roles      = [];
+        $repository         = app(CurrencyRepositoryInterface::class);
+        $what               = config('firefly.shortNamesByFullName')[$account->accountType->type];
+        $subTitle           = trans('firefly.edit_' . $what . '_account', ['name' => $account->name]);
+        $subTitleIcon       = config('firefly.subIconsByIdentifier.' . $what);
+        $allCurrencies      = $repository->get();
+        $currencySelectList = ExpandedForm::makeSelectList($allCurrencies);
+        $roles              = [];
         foreach (config('firefly.accountRoles') as $role) {
             $roles[$role] = strval(trans('firefly.account_role_' . $role));
         }
@@ -173,6 +173,7 @@ class AccountController extends Controller
         $openingBalanceAmount = $account->getOpeningBalanceAmount() === '0' ? '' : $openingBalanceAmount;
         $openingBalanceDate   = $account->getOpeningBalanceDate();
         $openingBalanceDate   = $openingBalanceDate->year === 1900 ? null : $openingBalanceDate->format('Y-m-d');
+        $currency             = $repository->find(intval($account->getMeta('currency_id')));
 
         $preFilled = [
             'accountNumber'        => $account->getMeta('accountNumber'),
@@ -183,13 +184,18 @@ class AccountController extends Controller
             'openingBalanceDate'   => $openingBalanceDate,
             'openingBalance'       => $openingBalanceAmount,
             'virtualBalance'       => $account->virtual_balance,
-            'currency_id'          => $account->getMeta('currency_id'),
+            'currency_id'          => $currency->id,
+
         ];
         $request->session()->flash('preFilled', $preFilled);
         $request->session()->flash('gaEventCategory', 'accounts');
         $request->session()->flash('gaEventAction', 'edit-' . $what);
 
-        return view('accounts.edit', compact('currencies', 'account', 'subTitle', 'subTitleIcon', 'openingBalance', 'what', 'roles'));
+        return view(
+            'accounts.edit', compact(
+            'allCurrencies', 'currencySelectList', 'account', 'currency', 'subTitle', 'subTitleIcon', 'openingBalance', 'what', 'roles'
+        )
+        );
     }
 
     /**
diff --git a/app/Models/Account.php b/app/Models/Account.php
index 268f843e61..cfef7e34af 100644
--- a/app/Models/Account.php
+++ b/app/Models/Account.php
@@ -211,6 +211,26 @@ class Account extends Model
         return $value;
     }
 
+    /**
+     * Returns the opening balance
+     *
+     * @return TransactionJournal
+     * @throws FireflyException
+     */
+    public function getOpeningBalance(): TransactionJournal
+    {
+        $journal = TransactionJournal::sortCorrectly()
+                                     ->leftJoin('transactions', 'transactions.transaction_journal_id', '=', 'transaction_journals.id')
+                                     ->where('transactions.account_id', $this->id)
+                                     ->transactionTypes([TransactionType::OPENING_BALANCE])
+                                     ->first(['transaction_journals.*']);
+        if (is_null($journal)) {
+            return new TransactionJournal;
+        }
+
+        return $journal;
+    }
+
     /**
      * Returns the amount of the opening balance for this account.
      *
diff --git a/app/Repositories/Account/AccountRepository.php b/app/Repositories/Account/AccountRepository.php
index a091f92f3e..52d32d47f5 100644
--- a/app/Repositories/Account/AccountRepository.php
+++ b/app/Repositories/Account/AccountRepository.php
@@ -530,12 +530,10 @@ class AccountRepository implements AccountRepositoryInterface
         }
         // opening balance data? update it!
         if (!is_null($openingBalance->id)) {
-            $date   = $data['openingBalanceDate'];
-            $amount = $data['openingBalance'];
 
             Log::debug('Opening balance journal found, update journal.');
 
-            $this->updateOpeningBalanceJournal($account, $openingBalance, $date, $amount);
+            $this->updateOpeningBalanceJournal($account, $openingBalance, $data);
 
             return true;
         }
@@ -589,15 +587,19 @@ class AccountRepository implements AccountRepositoryInterface
     /**
      * @param Account            $account
      * @param TransactionJournal $journal
-     * @param Carbon             $date
-     * @param float              $amount
+     * @param array              $data
      *
      * @return bool
      */
-    protected function updateOpeningBalanceJournal(Account $account, TransactionJournal $journal, Carbon $date, float $amount): bool
+    protected function updateOpeningBalanceJournal(Account $account, TransactionJournal $journal, array $data): bool
     {
+        $date       = $data['openingBalanceDate'];
+        $amount     = $data['openingBalance'];
+        $currencyId = intval($data['currency_id']);
+
         // update date:
-        $journal->date = $date;
+        $journal->date                    = $date;
+        $journal->transaction_currency_id = $currencyId;
         $journal->save();
         // update transactions:
         /** @var Transaction $transaction */
diff --git a/app/Repositories/Account/AccountRepositoryInterface.php b/app/Repositories/Account/AccountRepositoryInterface.php
index c173941f10..f51c398f0b 100644
--- a/app/Repositories/Account/AccountRepositoryInterface.php
+++ b/app/Repositories/Account/AccountRepositoryInterface.php
@@ -137,4 +137,12 @@ interface AccountRepositoryInterface
      */
     public function store(array $data): Account;
 
+    /**
+     * @param Account $account
+     * @param array   $data
+     *
+     * @return Account
+     */
+    public function update(Account $account, array $data): Account;
+
 }
diff --git a/app/Support/ExpandedForm.php b/app/Support/ExpandedForm.php
index 25ad689f2e..6fa0850bd2 100644
--- a/app/Support/ExpandedForm.php
+++ b/app/Support/ExpandedForm.php
@@ -261,6 +261,36 @@ class ExpandedForm
         return $html;
     }
 
+    /**
+     * @param string $name
+     * @param null   $value
+     * @param array  $options
+     *
+     * @return string
+     */
+    public function nonSelectableBalance(string $name, $value = null, array $options = []): string
+    {
+
+        $label            = $this->label($name, $options);
+        $options          = $this->expandOptionArray($name, $label, $options);
+        $classes          = $this->getHolderClasses($name);
+        $value            = $this->fillFieldValue($name, $value);
+        $options['step']  = 'any';
+        $selectedCurrency = isset($options['currency']) ? $options['currency'] : Amt::getDefaultCurrency();
+        unset($options['currency']);
+        unset($options['placeholder']);
+
+        // make sure value is formatted nicely:
+        if (!is_null($value) && $value !== '') {
+            $value = round($value, $selectedCurrency->decimal_places);
+        }
+
+
+        $html = view('form.non-selectable-balance', compact('selectedCurrency', 'classes', 'name', 'label', 'value', 'options'))->render();
+
+        return $html;
+    }
+
     /**
      * @param $type
      * @param $name
diff --git a/config/twigbridge.php b/config/twigbridge.php
index dc51e30651..1733496d56 100644
--- a/config/twigbridge.php
+++ b/config/twigbridge.php
@@ -159,7 +159,7 @@ return [
             'ExpandedForm' => [
                 'is_safe' => [
                     'date', 'text', 'select', 'balance', 'optionsList', 'checkbox', 'amount', 'tags', 'integer', 'textarea', 'location',
-                    'multiRadio', 'file', 'multiCheckbox', 'staticText', 'amountSmall', 'password',
+                    'multiRadio', 'file', 'multiCheckbox', 'staticText', 'amountSmall', 'password','nonSelectableBalance'
                 ],
             ],
             'Form'         => [
diff --git a/public/js/ff/accounts/edit.js b/public/js/ff/accounts/edit.js
index 675a5fe730..cb275d4ab6 100644
--- a/public/js/ff/accounts/edit.js
+++ b/public/js/ff/accounts/edit.js
@@ -6,7 +6,7 @@
  * See the LICENSE file for details.
  */
 
-/** global: Modernizr */
+/** global: Modernizr, currencies */
 
 $(document).ready(function () {
     "use strict";
@@ -17,4 +17,14 @@ $(document).ready(function () {
             }
         );
     }
+
+    // on change currency drop down list:
+    $('#ffInput_currency_id').change(updateCurrencyItems);
+
 });
+
+function updateCurrencyItems() {
+    var value = $('#ffInput_currency_id').val();
+    var symbol = currencies[value];
+    $('.non-selectable-currency-symbol').text(symbol);
+}
diff --git a/resources/views/accounts/edit.twig b/resources/views/accounts/edit.twig
index e01e7f98ee..5123ee9751 100644
--- a/resources/views/accounts/edit.twig
+++ b/resources/views/accounts/edit.twig
@@ -19,7 +19,7 @@
                     {{ ExpandedForm.text('name') }}
                     {% if account.accounttype.type == 'Default account' or account.accounttype.type == 'Asset account' %}
                         {# Not really mandatory but OK #}
-                        {{ ExpandedForm.select('currency_id', currencies) }}
+                        {{ ExpandedForm.select('currency_id', currencySelectList) }}
                     {% endif %}
                 </div>
             </div>
@@ -36,10 +36,12 @@
                     {{ ExpandedForm.text('accountNumber') }}
 
                     {% if account.accounttype.type == 'Default account' or account.accounttype.type == 'Asset account' %}
-                        {{ ExpandedForm.balance('openingBalance',null, {'currency' : openingBalance ? openingBalance.transactionCurrency : null}) }}
+
+                        {# get opening balance entry for this thing! #}
+                        {{ ExpandedForm.nonSelectableBalance('openingBalance',null, {'currency' : currency }) }}
                         {{ ExpandedForm.date('openingBalanceDate') }}
                         {{ ExpandedForm.select('accountRole', roles) }}
-                        {{ ExpandedForm.balance('virtualBalance',null) }}
+                        {{ ExpandedForm.nonSelectableBalance('virtualBalance',null, {'currency' : currency }) }}
 
                     {% endif %}
                     {{ ExpandedForm.checkbox('active','1') }}
@@ -80,6 +82,15 @@
 {% block scripts %}
     <script type="text/javascript" src="js/lib/modernizr-custom.js"></script>
     <script type="text/javascript" src="js/lib/jquery-ui.min.js"></script>
+
+    {# JS currency list for update thing #}
+    <script type="text/javascript">
+        var currencies = [];
+        {% for currency in allCurrencies %}
+            currencies[{{ currency.id }}] = "{{ currency.symbol }}";
+        {% endfor %}
+    </script>
+
     <script type="text/javascript" src="js/ff/accounts/edit.js"></script>
 {% endblock %}
 
diff --git a/resources/views/form/non-selectable-balance.twig b/resources/views/form/non-selectable-balance.twig
new file mode 100644
index 0000000000..1391873842
--- /dev/null
+++ b/resources/views/form/non-selectable-balance.twig
@@ -0,0 +1,11 @@
+<div class="{{ classes }}" id="{{ name }}_holder">
+    <label for="{{ options.id }}" class="col-sm-4 control-label">{{ label }}</label>
+
+    <div class="col-sm-8">
+        <div class="input-group">
+            <span class="input-group-addon non-selectable-currency-symbol">{{ selectedCurrency.symbol }}</span>
+            {{ Form.input('number', name, value, options) }}
+        </div>
+        {% include 'form/feedback' %}
+    </div>
+</div>