diff --git a/app/models/wallet.rb b/app/models/wallet.rb
index d9a8165e154..d6b45008dfd 100644
--- a/app/models/wallet.rb
+++ b/app/models/wallet.rb
@@ -13,6 +13,8 @@ class Wallet < ApplicationRecord
   monetize :balance_cents, :ongoing_balance_cents, :ongoing_usage_balance_cents
   monetize :consumed_amount_cents
 
+  validates :rate_amount, numericality: {greater_than: 0}
+
   STATUSES = [
     :active,
     :terminated
diff --git a/spec/models/wallet_spec.rb b/spec/models/wallet_spec.rb
index aeb3edd3417..f8133f85326 100644
--- a/spec/models/wallet_spec.rb
+++ b/spec/models/wallet_spec.rb
@@ -5,6 +5,10 @@
 RSpec.describe Wallet, type: :model do
   subject(:wallet) { build(:wallet) }
 
+  describe 'validations' do
+    it { is_expected.to validate_numericality_of(:rate_amount).is_greater_than(0) }
+  end
+
   describe 'currency=' do
     it 'assigns the currency to all amounts' do
       wallet.currency = 'CAD'