diff --git a/libs/accounts/src/lib/accounts-actions-dropdown.tsx b/libs/accounts/src/lib/accounts-actions-dropdown.tsx
index 93f34aeff..bf8ce77f8 100644
--- a/libs/accounts/src/lib/accounts-actions-dropdown.tsx
+++ b/libs/accounts/src/lib/accounts-actions-dropdown.tsx
@@ -60,7 +60,7 @@ export const AccountsActionsDropdown = ({
         <DropdownMenuItem
           key={'transfer'}
           data-testid="transfer"
-          onClick={() => openTransferDialog(true)}
+          onClick={() => openTransferDialog(true, assetId)}
         >
           <VegaIcon name={VegaIconNames.TRANSFER} size={16} />
           {t('Transfer')}
diff --git a/libs/accounts/src/lib/transfer-container.tsx b/libs/accounts/src/lib/transfer-container.tsx
index e95d3e6a4..338ffec79 100644
--- a/libs/accounts/src/lib/transfer-container.tsx
+++ b/libs/accounts/src/lib/transfer-container.tsx
@@ -14,7 +14,7 @@ import { TransferForm } from './transfer-form';
 import { useTransferDialog } from './transfer-dialog';
 import { Lozenge } from '@vegaprotocol/ui-toolkit';
 
-export const TransferContainer = () => {
+export const TransferContainer = ({ assetId }: { assetId?: string }) => {
   const { pubKey, pubKeys } = useVegaWallet();
   const open = useTransferDialog((store) => store.open);
   const { param } = useNetworkParam(NetworkParams.transfer_fee_factor);
@@ -59,6 +59,7 @@ export const TransferContainer = () => {
         pubKey={pubKey}
         pubKeys={pubKeys ? pubKeys?.map((pk) => pk.publicKey) : null}
         assets={assets}
+        assetId={assetId}
         feeFactor={param}
         submitTransfer={transfer}
       />
diff --git a/libs/accounts/src/lib/transfer-dialog.tsx b/libs/accounts/src/lib/transfer-dialog.tsx
index 2861113f1..47fd40375 100644
--- a/libs/accounts/src/lib/transfer-dialog.tsx
+++ b/libs/accounts/src/lib/transfer-dialog.tsx
@@ -5,24 +5,26 @@ import { TransferContainer } from './transfer-container';
 
 interface State {
   isOpen: boolean;
+  assetId: string | undefined;
 }
 
 interface Actions {
-  open: (open?: boolean) => void;
+  open: (open?: boolean, assetId?: string) => void;
 }
 
 export const useTransferDialog = create<State & Actions>()((set) => ({
   isOpen: false,
-  open: (open = true) => {
-    set(() => ({ isOpen: open }));
+  assetId: undefined,
+  open: (open = true, assetId) => {
+    set(() => ({ isOpen: open, assetId }));
   },
 }));
 
 export const TransferDialog = () => {
-  const { isOpen, open } = useTransferDialog();
+  const { isOpen, open, assetId } = useTransferDialog();
   return (
     <Dialog title={t('Transfer')} open={isOpen} onChange={open} size="small">
-      <TransferContainer />
+      <TransferContainer assetId={assetId} />
     </Dialog>
   );
 };
diff --git a/libs/accounts/src/lib/transfer-form.tsx b/libs/accounts/src/lib/transfer-form.tsx
index 7a56c9342..cf10a4d1e 100644
--- a/libs/accounts/src/lib/transfer-form.tsx
+++ b/libs/accounts/src/lib/transfer-form.tsx
@@ -41,6 +41,7 @@ interface TransferFormProps {
     decimals: number;
     balance: string;
   }>;
+  assetId?: string;
   feeFactor: string | null;
   submitTransfer: (transfer: Transfer) => void;
 }
@@ -49,6 +50,7 @@ export const TransferForm = ({
   pubKey,
   pubKeys,
   assets,
+  assetId: initialAssetId,
   feeFactor,
   submitTransfer,
 }: TransferFormProps) => {
@@ -59,7 +61,11 @@ export const TransferForm = ({
     handleSubmit,
     setValue,
     formState: { errors },
-  } = useForm<FormFields>();
+  } = useForm<FormFields>({
+    defaultValues: {
+      asset: initialAssetId,
+    },
+  });
 
   const amount = watch('amount');
   const assetId = watch('asset');