diff --git a/cumulus/parachains/runtimes/assets/asset-hub-rococo/src/lib.rs b/cumulus/parachains/runtimes/assets/asset-hub-rococo/src/lib.rs
index 61939a2c80a7..3690c81cb788 100644
--- a/cumulus/parachains/runtimes/assets/asset-hub-rococo/src/lib.rs
+++ b/cumulus/parachains/runtimes/assets/asset-hub-rococo/src/lib.rs
@@ -58,9 +58,11 @@ use frame_support::{
 	genesis_builder_helper::{build_config, create_default_config},
 	ord_parameter_types, parameter_types,
 	traits::{
-		fungible, fungibles, tokens::imbalance::ResolveAssetTo, AsEnsureOriginWithArg, ConstBool,
-		ConstU128, ConstU32, ConstU64, ConstU8, EitherOfDiverse, Equals, InstanceFilter,
-		TransformOrigin,
+		fungible::{self, HoldConsideration},
+		fungibles,
+		tokens::imbalance::ResolveAssetTo,
+		AsEnsureOriginWithArg, ConstBool, ConstU128, ConstU32, ConstU64, ConstU8, EitherOfDiverse,
+		Equals, InstanceFilter, LinearStoragePrice, TransformOrigin,
 	},
 	weights::{ConstantMultiplier, Weight},
 	BoundedVec, PalletId,
@@ -215,7 +217,8 @@ impl pallet_balances::Config for Runtime {
 	type FreezeIdentifier = ();
 	// We allow each account to have holds on it from:
 	//   - `NftFractionalization`: 1
-	type MaxHolds = ConstU32<1>;
+	//   - `Multisig`: 1
+	type MaxHolds = ConstU32<2>;
 	type MaxFreezes = ConstU32<0>;
 }
 
@@ -409,14 +412,19 @@ parameter_types! {
 	// Additional storage item size of 32 bytes.
 	pub const DepositFactor: Balance = deposit(0, 32);
 	pub const MaxSignatories: u32 = 100;
+	pub const MultisigHoldReason: RuntimeHoldReason = RuntimeHoldReason::Multisig(pallet_multisig::HoldReason::Multisig);
 }
 
 impl pallet_multisig::Config for Runtime {
 	type RuntimeEvent = RuntimeEvent;
 	type RuntimeCall = RuntimeCall;
 	type Currency = Balances;
-	type DepositBase = DepositBase;
-	type DepositFactor = DepositFactor;
+	type Consideration = HoldConsideration<
+		AccountId,
+		Balances,
+		MultisigHoldReason,
+		LinearStoragePrice<DepositBase, DepositFactor, Balance>,
+	>;
 	type MaxSignatories = MaxSignatories;
 	type WeightInfo = weights::pallet_multisig::WeightInfo<Runtime>;
 }
@@ -912,7 +920,7 @@ construct_runtime!(
 
 		// Handy utilities.
 		Utility: pallet_utility::{Pallet, Call, Event} = 40,
-		Multisig: pallet_multisig::{Pallet, Call, Storage, Event<T>} = 41,
+		Multisig: pallet_multisig::{Pallet, Call, Storage, Event<T>, HoldReason} = 41,
 		Proxy: pallet_proxy::{Pallet, Call, Storage, Event<T>} = 42,
 
 		// Bridge utilities.
diff --git a/cumulus/parachains/runtimes/assets/asset-hub-westend/src/lib.rs b/cumulus/parachains/runtimes/assets/asset-hub-westend/src/lib.rs
index e0dff0c4516e..60905fd7430c 100644
--- a/cumulus/parachains/runtimes/assets/asset-hub-westend/src/lib.rs
+++ b/cumulus/parachains/runtimes/assets/asset-hub-westend/src/lib.rs
@@ -40,10 +40,11 @@ use frame_support::{
 	genesis_builder_helper::{build_config, create_default_config},
 	ord_parameter_types, parameter_types,
 	traits::{
-		fungible, fungibles,
+		fungible::{self, HoldConsideration},
+		fungibles,
 		tokens::{imbalance::ResolveAssetTo, nonfungibles_v2::Inspect},
 		AsEnsureOriginWithArg, ConstBool, ConstU128, ConstU32, ConstU64, ConstU8, Equals,
-		InstanceFilter, TransformOrigin,
+		InstanceFilter, LinearStoragePrice, TransformOrigin,
 	},
 	weights::{ConstantMultiplier, Weight},
 	BoundedVec, PalletId,
@@ -200,7 +201,8 @@ impl pallet_balances::Config for Runtime {
 	type FreezeIdentifier = ();
 	// We allow each account to have holds on it from:
 	//   - `NftFractionalization`: 1
-	type MaxHolds = ConstU32<1>;
+	//   - `Multisig`: 1
+	type MaxHolds = ConstU32<2>;
 	type MaxFreezes = ConstU32<0>;
 }
 
@@ -389,14 +391,19 @@ parameter_types! {
 	// Additional storage item size of 32 bytes.
 	pub const DepositFactor: Balance = deposit(0, 32);
 	pub const MaxSignatories: u32 = 100;
+	pub const MultisigHoldReason: RuntimeHoldReason = RuntimeHoldReason::Multisig(pallet_multisig::HoldReason::Multisig);
 }
 
 impl pallet_multisig::Config for Runtime {
 	type RuntimeEvent = RuntimeEvent;
 	type RuntimeCall = RuntimeCall;
 	type Currency = Balances;
-	type DepositBase = DepositBase;
-	type DepositFactor = DepositFactor;
+	type Consideration = HoldConsideration<
+		AccountId,
+		Balances,
+		MultisigHoldReason,
+		LinearStoragePrice<DepositBase, DepositFactor, Balance>,
+	>;
 	type MaxSignatories = MaxSignatories;
 	type WeightInfo = weights::pallet_multisig::WeightInfo<Runtime>;
 }
@@ -891,7 +898,7 @@ construct_runtime!(
 
 		// Handy utilities.
 		Utility: pallet_utility::{Pallet, Call, Event} = 40,
-		Multisig: pallet_multisig::{Pallet, Call, Storage, Event<T>} = 41,
+		Multisig: pallet_multisig::{Pallet, Call, Storage, Event<T>, HoldReason} = 41,
 		Proxy: pallet_proxy::{Pallet, Call, Storage, Event<T>} = 42,
 
 		// The main stage.
diff --git a/cumulus/parachains/runtimes/bridge-hubs/bridge-hub-rococo/src/lib.rs b/cumulus/parachains/runtimes/bridge-hubs/bridge-hub-rococo/src/lib.rs
index b21cde248e11..fb4ef47025eb 100644
--- a/cumulus/parachains/runtimes/bridge-hubs/bridge-hub-rococo/src/lib.rs
+++ b/cumulus/parachains/runtimes/bridge-hubs/bridge-hub-rococo/src/lib.rs
@@ -61,7 +61,10 @@ use frame_support::{
 	dispatch::DispatchClass,
 	genesis_builder_helper::{build_config, create_default_config},
 	parameter_types,
-	traits::{ConstBool, ConstU32, ConstU64, ConstU8, TransformOrigin},
+	traits::{
+		fungible::HoldConsideration, ConstBool, ConstU32, ConstU64, ConstU8, LinearStoragePrice,
+		TransformOrigin,
+	},
 	weights::{ConstantMultiplier, Weight},
 	PalletId,
 };
@@ -312,7 +315,9 @@ impl pallet_balances::Config for Runtime {
 	type RuntimeHoldReason = RuntimeHoldReason;
 	type RuntimeFreezeReason = RuntimeFreezeReason;
 	type FreezeIdentifier = ();
-	type MaxHolds = ConstU32<0>;
+	// We allow each account to have holds on it from:
+	//   - `Multisig`: 1
+	type MaxHolds = ConstU32<1>;
 	type MaxFreezes = ConstU32<0>;
 }
 
@@ -476,14 +481,19 @@ parameter_types! {
 	pub const DepositBase: Balance = deposit(1, 88);
 	// Additional storage item size of 32 bytes.
 	pub const DepositFactor: Balance = deposit(0, 32);
+	pub const MultisigHoldReason: RuntimeHoldReason = RuntimeHoldReason::Multisig(pallet_multisig::HoldReason::Multisig);
 }
 
 impl pallet_multisig::Config for Runtime {
 	type RuntimeEvent = RuntimeEvent;
 	type RuntimeCall = RuntimeCall;
 	type Currency = Balances;
-	type DepositBase = DepositBase;
-	type DepositFactor = DepositFactor;
+	type Consideration = HoldConsideration<
+		AccountId,
+		Balances,
+		MultisigHoldReason,
+		LinearStoragePrice<DepositBase, DepositFactor, Balance>,
+	>;
 	type MaxSignatories = ConstU32<100>;
 	type WeightInfo = weights::pallet_multisig::WeightInfo<Runtime>;
 }
@@ -670,7 +680,7 @@ construct_runtime!(
 
 		// Handy utilities.
 		Utility: pallet_utility::{Pallet, Call, Event} = 40,
-		Multisig: pallet_multisig::{Pallet, Call, Storage, Event<T>} = 36,
+		Multisig: pallet_multisig::{Pallet, Call, Storage, Event<T>, HoldReason} = 36,
 
 		// Bridge relayers pallet, used by several bridges here.
 		BridgeRelayers: pallet_bridge_relayers::{Pallet, Call, Storage, Event<T>} = 47,
diff --git a/cumulus/parachains/runtimes/bridge-hubs/bridge-hub-westend/src/lib.rs b/cumulus/parachains/runtimes/bridge-hubs/bridge-hub-westend/src/lib.rs
index 717cde6280db..8d6ef65aab4b 100644
--- a/cumulus/parachains/runtimes/bridge-hubs/bridge-hub-westend/src/lib.rs
+++ b/cumulus/parachains/runtimes/bridge-hubs/bridge-hub-westend/src/lib.rs
@@ -57,7 +57,10 @@ use frame_support::{
 	dispatch::DispatchClass,
 	genesis_builder_helper::{build_config, create_default_config},
 	parameter_types,
-	traits::{ConstBool, ConstU32, ConstU64, ConstU8, TransformOrigin},
+	traits::{
+		fungible::HoldConsideration, ConstBool, ConstU32, ConstU64, ConstU8, LinearStoragePrice,
+		TransformOrigin,
+	},
 	weights::{ConstantMultiplier, Weight},
 	PalletId,
 };
@@ -278,7 +281,9 @@ impl pallet_balances::Config for Runtime {
 	type RuntimeHoldReason = RuntimeHoldReason;
 	type RuntimeFreezeReason = RuntimeFreezeReason;
 	type FreezeIdentifier = ();
-	type MaxHolds = ConstU32<0>;
+	// We allow each account to have holds on it from:
+	//   - `Multisig`: 1
+	type MaxHolds = ConstU32<1>;
 	type MaxFreezes = ConstU32<0>;
 }
 
@@ -434,14 +439,19 @@ parameter_types! {
 	pub const DepositBase: Balance = deposit(1, 88);
 	// Additional storage item size of 32 bytes.
 	pub const DepositFactor: Balance = deposit(0, 32);
+	pub const MultisigHoldReason: RuntimeHoldReason = RuntimeHoldReason::Multisig(pallet_multisig::HoldReason::Multisig);
 }
 
 impl pallet_multisig::Config for Runtime {
 	type RuntimeEvent = RuntimeEvent;
 	type RuntimeCall = RuntimeCall;
 	type Currency = Balances;
-	type DepositBase = DepositBase;
-	type DepositFactor = DepositFactor;
+	type Consideration = HoldConsideration<
+		AccountId,
+		Balances,
+		MultisigHoldReason,
+		LinearStoragePrice<DepositBase, DepositFactor, Balance>,
+	>;
 	type MaxSignatories = ConstU32<100>;
 	type WeightInfo = weights::pallet_multisig::WeightInfo<Runtime>;
 }
@@ -483,7 +493,7 @@ construct_runtime!(
 
 		// Handy utilities.
 		Utility: pallet_utility::{Pallet, Call, Event} = 40,
-		Multisig: pallet_multisig::{Pallet, Call, Storage, Event<T>} = 36,
+		Multisig: pallet_multisig::{Pallet, Call, Storage, Event<T>, HoldReason} = 36,
 
 		// Bridging stuff.
 		BridgeRelayers: pallet_bridge_relayers::{Pallet, Call, Storage, Event<T>} = 41,
diff --git a/cumulus/parachains/runtimes/collectives/collectives-westend/src/lib.rs b/cumulus/parachains/runtimes/collectives/collectives-westend/src/lib.rs
index 6cb8e096e4b3..3b23d958a942 100644
--- a/cumulus/parachains/runtimes/collectives/collectives-westend/src/lib.rs
+++ b/cumulus/parachains/runtimes/collectives/collectives-westend/src/lib.rs
@@ -211,7 +211,10 @@ impl pallet_balances::Config for Runtime {
 	type RuntimeHoldReason = RuntimeHoldReason;
 	type RuntimeFreezeReason = RuntimeFreezeReason;
 	type FreezeIdentifier = ();
-	type MaxHolds = ConstU32<1>;
+	// We allow each account to have holds on it from:
+	//   - `Preimage`: 1
+	//   - `Multisig`: 1
+	type MaxHolds = ConstU32<2>;
 	type MaxFreezes = ConstU32<0>;
 }
 
@@ -235,14 +238,19 @@ parameter_types! {
 	pub const DepositBase: Balance = deposit(1, 88);
 	// Additional storage item size of 32 bytes.
 	pub const DepositFactor: Balance = deposit(0, 32);
+	pub const MultisigHoldReason: RuntimeHoldReason = RuntimeHoldReason::Multisig(pallet_multisig::HoldReason::Multisig);
 }
 
 impl pallet_multisig::Config for Runtime {
 	type RuntimeEvent = RuntimeEvent;
 	type RuntimeCall = RuntimeCall;
 	type Currency = Balances;
-	type DepositBase = DepositBase;
-	type DepositFactor = DepositFactor;
+	type Consideration = HoldConsideration<
+		AccountId,
+		Balances,
+		MultisigHoldReason,
+		LinearStoragePrice<DepositBase, DepositFactor, Balance>,
+	>;
 	type MaxSignatories = ConstU32<100>;
 	type WeightInfo = weights::pallet_multisig::WeightInfo<Runtime>;
 }
@@ -661,7 +669,7 @@ construct_runtime!(
 
 		// Handy utilities.
 		Utility: pallet_utility::{Pallet, Call, Event} = 40,
-		Multisig: pallet_multisig::{Pallet, Call, Storage, Event<T>} = 41,
+		Multisig: pallet_multisig::{Pallet, Call, Storage, Event<T>, HoldReason} = 41,
 		Proxy: pallet_proxy::{Pallet, Call, Storage, Event<T>} = 42,
 		Preimage: pallet_preimage::{Pallet, Call, Storage, Event<T>, HoldReason} = 43,
 		Scheduler: pallet_scheduler::{Pallet, Call, Storage, Event<T>} = 44,
diff --git a/cumulus/parachains/runtimes/contracts/contracts-rococo/src/lib.rs b/cumulus/parachains/runtimes/contracts/contracts-rococo/src/lib.rs
index 79b6b6be299b..1cb57f9a17c5 100644
--- a/cumulus/parachains/runtimes/contracts/contracts-rococo/src/lib.rs
+++ b/cumulus/parachains/runtimes/contracts/contracts-rococo/src/lib.rs
@@ -50,7 +50,10 @@ use frame_support::{
 	dispatch::DispatchClass,
 	genesis_builder_helper::{build_config, create_default_config},
 	parameter_types,
-	traits::{ConstBool, ConstU128, ConstU16, ConstU32, ConstU64, ConstU8},
+	traits::{
+		fungible::HoldConsideration, ConstBool, ConstU128, ConstU16, ConstU32, ConstU64, ConstU8,
+		LinearStoragePrice,
+	},
 	weights::{ConstantMultiplier, Weight},
 	PalletId,
 };
@@ -217,7 +220,10 @@ impl pallet_balances::Config for Runtime {
 	type RuntimeHoldReason = RuntimeHoldReason;
 	type RuntimeFreezeReason = RuntimeFreezeReason;
 	type FreezeIdentifier = ();
-	type MaxHolds = ConstU32<1>;
+	// We allow each account to have holds on it from:
+	//   - `Contracts`: 1
+	//   - `Multisig`: 1
+	type MaxHolds = ConstU32<2>;
 	type MaxFreezes = ConstU32<0>;
 }
 
@@ -241,14 +247,19 @@ parameter_types! {
 	pub const DepositBase: Balance = deposit(1, 88);
 	// Additional storage item size of 32 bytes.
 	pub const DepositFactor: Balance = deposit(0, 32);
+	pub const MultisigHoldReason: RuntimeHoldReason = RuntimeHoldReason::Multisig(pallet_multisig::HoldReason::Multisig);
 }
 
 impl pallet_multisig::Config for Runtime {
 	type RuntimeEvent = RuntimeEvent;
 	type RuntimeCall = RuntimeCall;
 	type Currency = Balances;
-	type DepositBase = DepositBase;
-	type DepositFactor = DepositFactor;
+	type Consideration = HoldConsideration<
+		AccountId,
+		Balances,
+		MultisigHoldReason,
+		LinearStoragePrice<DepositBase, DepositFactor, Balance>,
+	>;
 	type MaxSignatories = ConstU32<100>;
 	type WeightInfo = pallet_multisig::weights::SubstrateWeight<Runtime>;
 }
@@ -406,7 +417,7 @@ construct_runtime!(
 
 		// Handy utilities.
 		Utility: pallet_utility::{Pallet, Call, Event} = 50,
-		Multisig: pallet_multisig::{Pallet, Call, Storage, Event<T>} = 51,
+		Multisig: pallet_multisig::{Pallet, Call, Storage, Event<T>, HoldReason} = 51,
 
 		// Sudo
 		Sudo: pallet_sudo::{Pallet, Call, Config<T>, Event<T>, Storage} = 100,
diff --git a/cumulus/parachains/runtimes/coretime/coretime-rococo/src/lib.rs b/cumulus/parachains/runtimes/coretime/coretime-rococo/src/lib.rs
index 0f01c2d74166..68b921ba4789 100644
--- a/cumulus/parachains/runtimes/coretime/coretime-rococo/src/lib.rs
+++ b/cumulus/parachains/runtimes/coretime/coretime-rococo/src/lib.rs
@@ -40,7 +40,10 @@ use frame_support::{
 	dispatch::DispatchClass,
 	genesis_builder_helper::{build_config, create_default_config},
 	parameter_types,
-	traits::{ConstBool, ConstU32, ConstU64, ConstU8, EitherOfDiverse, TransformOrigin},
+	traits::{
+		fungible::HoldConsideration, ConstBool, ConstU32, ConstU64, ConstU8, EitherOfDiverse,
+		LinearStoragePrice, TransformOrigin,
+	},
 	weights::{ConstantMultiplier, Weight},
 	PalletId,
 };
@@ -228,7 +231,9 @@ impl pallet_balances::Config for Runtime {
 	type RuntimeHoldReason = RuntimeHoldReason;
 	type RuntimeFreezeReason = RuntimeFreezeReason;
 	type FreezeIdentifier = ();
-	type MaxHolds = ConstU32<0>;
+	// We allow each account to have holds on it from:
+	//   - `Multisig`: 1
+	type MaxHolds = ConstU32<1>;
 	type MaxFreezes = ConstU32<0>;
 }
 
@@ -399,14 +404,19 @@ parameter_types! {
 	pub const DepositBase: Balance = deposit(1, 88);
 	/// Additional storage item size of 32 bytes.
 	pub const DepositFactor: Balance = deposit(0, 32);
+	pub const MultisigHoldReason: RuntimeHoldReason = RuntimeHoldReason::Multisig(pallet_multisig::HoldReason::Multisig);
 }
 
 impl pallet_multisig::Config for Runtime {
 	type RuntimeEvent = RuntimeEvent;
 	type RuntimeCall = RuntimeCall;
 	type Currency = Balances;
-	type DepositBase = DepositBase;
-	type DepositFactor = DepositFactor;
+	type Consideration = HoldConsideration<
+		AccountId,
+		Balances,
+		MultisigHoldReason,
+		LinearStoragePrice<DepositBase, DepositFactor, Balance>,
+	>;
 	type MaxSignatories = ConstU32<100>;
 	type WeightInfo = weights::pallet_multisig::WeightInfo<Runtime>;
 }
diff --git a/cumulus/parachains/runtimes/coretime/coretime-westend/src/lib.rs b/cumulus/parachains/runtimes/coretime/coretime-westend/src/lib.rs
index 742b3a29275c..5769324421bd 100644
--- a/cumulus/parachains/runtimes/coretime/coretime-westend/src/lib.rs
+++ b/cumulus/parachains/runtimes/coretime/coretime-westend/src/lib.rs
@@ -31,7 +31,10 @@ use frame_support::{
 	dispatch::DispatchClass,
 	genesis_builder_helper::{build_config, create_default_config},
 	parameter_types,
-	traits::{ConstBool, ConstU32, ConstU64, ConstU8, EitherOfDiverse, TransformOrigin},
+	traits::{
+		fungible::HoldConsideration, ConstBool, ConstU32, ConstU64, ConstU8, EitherOfDiverse,
+		LinearStoragePrice, TransformOrigin,
+	},
 	weights::{ConstantMultiplier, Weight},
 	PalletId,
 };
@@ -219,7 +222,9 @@ impl pallet_balances::Config for Runtime {
 	type RuntimeHoldReason = RuntimeHoldReason;
 	type RuntimeFreezeReason = RuntimeFreezeReason;
 	type FreezeIdentifier = ();
-	type MaxHolds = ConstU32<0>;
+	// We allow each account to have holds on it from:
+	//   - `Multisig`: 1
+	type MaxHolds = ConstU32<1>;
 	type MaxFreezes = ConstU32<0>;
 }
 
@@ -390,14 +395,19 @@ parameter_types! {
 	pub const DepositBase: Balance = deposit(1, 88);
 	/// Additional storage item size of 32 bytes.
 	pub const DepositFactor: Balance = deposit(0, 32);
+	pub const MultisigHoldReason: RuntimeHoldReason = RuntimeHoldReason::Multisig(pallet_multisig::HoldReason::Multisig);
 }
 
 impl pallet_multisig::Config for Runtime {
 	type RuntimeEvent = RuntimeEvent;
 	type RuntimeCall = RuntimeCall;
 	type Currency = Balances;
-	type DepositBase = DepositBase;
-	type DepositFactor = DepositFactor;
+	type Consideration = HoldConsideration<
+		AccountId,
+		Balances,
+		MultisigHoldReason,
+		LinearStoragePrice<DepositBase, DepositFactor, Balance>,
+	>;
 	type MaxSignatories = ConstU32<100>;
 	type WeightInfo = weights::pallet_multisig::WeightInfo<Runtime>;
 }
diff --git a/cumulus/parachains/runtimes/people/people-rococo/src/lib.rs b/cumulus/parachains/runtimes/people/people-rococo/src/lib.rs
index 7805e0ad9829..109025c30fdf 100644
--- a/cumulus/parachains/runtimes/people/people-rococo/src/lib.rs
+++ b/cumulus/parachains/runtimes/people/people-rococo/src/lib.rs
@@ -30,8 +30,8 @@ use frame_support::{
 	genesis_builder_helper::{build_config, create_default_config},
 	parameter_types,
 	traits::{
-		ConstBool, ConstU32, ConstU64, ConstU8, Contains, EitherOfDiverse, EverythingBut,
-		TransformOrigin,
+		fungible::HoldConsideration, ConstBool, ConstU32, ConstU64, ConstU8, Contains,
+		EitherOfDiverse, EverythingBut, LinearStoragePrice, TransformOrigin,
 	},
 	weights::{ConstantMultiplier, Weight},
 	PalletId,
@@ -218,7 +218,9 @@ impl pallet_balances::Config for Runtime {
 	type RuntimeFreezeReason = RuntimeFreezeReason;
 	type RuntimeHoldReason = RuntimeHoldReason;
 	type FreezeIdentifier = ();
-	type MaxHolds = ConstU32<0>;
+	// We allow each account to have holds on it from:
+	//   - `Multisig`: 1
+	type MaxHolds = ConstU32<1>;
 	type MaxFreezes = ConstU32<0>;
 }
 
@@ -376,14 +378,19 @@ parameter_types! {
 	pub const DepositBase: Balance = deposit(1, 88);
 	// Additional storage item size of 32 bytes.
 	pub const DepositFactor: Balance = deposit(0, 32);
+	pub const MultisigHoldReason: RuntimeHoldReason = RuntimeHoldReason::Multisig(pallet_multisig::HoldReason::Multisig);
 }
 
 impl pallet_multisig::Config for Runtime {
 	type RuntimeEvent = RuntimeEvent;
 	type RuntimeCall = RuntimeCall;
 	type Currency = Balances;
-	type DepositBase = DepositBase;
-	type DepositFactor = DepositFactor;
+	type Consideration = HoldConsideration<
+		AccountId,
+		Balances,
+		MultisigHoldReason,
+		LinearStoragePrice<DepositBase, DepositFactor, Balance>,
+	>;
 	type MaxSignatories = ConstU32<100>;
 	type WeightInfo = weights::pallet_multisig::WeightInfo<Runtime>;
 }
@@ -434,7 +441,7 @@ construct_runtime!(
 
 		// Handy utilities.
 		Utility: pallet_utility::{Pallet, Call, Event} = 40,
-		Multisig: pallet_multisig::{Pallet, Call, Storage, Event<T>} = 41,
+		Multisig: pallet_multisig::{Pallet, Call, Storage, Event<T>, HoldReason} = 41,
 
 		// The main stage.
 		Identity: pallet_identity::{Pallet, Call, Storage, Event<T>} = 50,
diff --git a/cumulus/parachains/runtimes/people/people-westend/src/lib.rs b/cumulus/parachains/runtimes/people/people-westend/src/lib.rs
index 8ea29c8aa218..9feb22d6dd69 100644
--- a/cumulus/parachains/runtimes/people/people-westend/src/lib.rs
+++ b/cumulus/parachains/runtimes/people/people-westend/src/lib.rs
@@ -30,8 +30,8 @@ use frame_support::{
 	genesis_builder_helper::{build_config, create_default_config},
 	parameter_types,
 	traits::{
-		ConstBool, ConstU32, ConstU64, ConstU8, Contains, EitherOfDiverse, EverythingBut,
-		TransformOrigin,
+		fungible::HoldConsideration, ConstBool, ConstU32, ConstU64, ConstU8, Contains,
+		EitherOfDiverse, EverythingBut, LinearStoragePrice, TransformOrigin,
 	},
 	weights::{ConstantMultiplier, Weight},
 	PalletId,
@@ -218,7 +218,9 @@ impl pallet_balances::Config for Runtime {
 	type RuntimeFreezeReason = RuntimeFreezeReason;
 	type RuntimeHoldReason = RuntimeHoldReason;
 	type FreezeIdentifier = ();
-	type MaxHolds = ConstU32<0>;
+	// We allow each account to have holds on it from:
+	//   - `Multisig`: 1
+	type MaxHolds = ConstU32<1>;
 	type MaxFreezes = ConstU32<0>;
 }
 
@@ -376,14 +378,19 @@ parameter_types! {
 	pub const DepositBase: Balance = deposit(1, 88);
 	// Additional storage item size of 32 bytes.
 	pub const DepositFactor: Balance = deposit(0, 32);
+	pub const MultisigHoldReason: RuntimeHoldReason = RuntimeHoldReason::Multisig(pallet_multisig::HoldReason::Multisig);
 }
 
 impl pallet_multisig::Config for Runtime {
 	type RuntimeEvent = RuntimeEvent;
 	type RuntimeCall = RuntimeCall;
 	type Currency = Balances;
-	type DepositBase = DepositBase;
-	type DepositFactor = DepositFactor;
+	type Consideration = HoldConsideration<
+		AccountId,
+		Balances,
+		MultisigHoldReason,
+		LinearStoragePrice<DepositBase, DepositFactor, Balance>,
+	>;
 	type MaxSignatories = ConstU32<100>;
 	type WeightInfo = weights::pallet_multisig::WeightInfo<Runtime>;
 }
@@ -434,7 +441,7 @@ construct_runtime!(
 
 		// Handy utilities.
 		Utility: pallet_utility::{Pallet, Call, Event} = 40,
-		Multisig: pallet_multisig::{Pallet, Call, Storage, Event<T>} = 41,
+		Multisig: pallet_multisig::{Pallet, Call, Storage, Event<T>, HoldReason} = 41,
 
 		// The main stage.
 		Identity: pallet_identity::{Pallet, Call, Storage, Event<T>} = 50,
diff --git a/polkadot/runtime/rococo/src/lib.rs b/polkadot/runtime/rococo/src/lib.rs
index 67caa347bc38..ba4e70a7a62b 100644
--- a/polkadot/runtime/rococo/src/lib.rs
+++ b/polkadot/runtime/rococo/src/lib.rs
@@ -317,7 +317,11 @@ impl pallet_balances::Config for Runtime {
 	type MaxFreezes = ConstU32<1>;
 	type RuntimeHoldReason = RuntimeHoldReason;
 	type RuntimeFreezeReason = RuntimeFreezeReason;
-	type MaxHolds = ConstU32<2>;
+	// We allow each account to have holds on it from:
+	//   - `Nis`: 1
+	//   - `Preimage`: 1
+	//   - `Multisig`: 1
+	type MaxHolds = ConstU32<3>;
 }
 
 parameter_types! {
@@ -684,14 +688,19 @@ parameter_types! {
 	// Additional storage item size of 32 bytes.
 	pub const DepositFactor: Balance = deposit(0, 32);
 	pub const MaxSignatories: u32 = 100;
+	pub const MultisigHoldReason: RuntimeHoldReason = RuntimeHoldReason::Multisig(pallet_multisig::HoldReason::Multisig);
 }
 
 impl pallet_multisig::Config for Runtime {
 	type RuntimeEvent = RuntimeEvent;
 	type RuntimeCall = RuntimeCall;
 	type Currency = Balances;
-	type DepositBase = DepositBase;
-	type DepositFactor = DepositFactor;
+	type Consideration = HoldConsideration<
+		AccountId,
+		Balances,
+		MultisigHoldReason,
+		LinearStoragePrice<DepositBase, DepositFactor, Balance>,
+	>;
 	type MaxSignatories = MaxSignatories;
 	type WeightInfo = weights::pallet_multisig::WeightInfo<Runtime>;
 }
@@ -1163,7 +1172,11 @@ impl pallet_balances::Config<NisCounterpartInstance> for Runtime {
 	type RuntimeHoldReason = RuntimeHoldReason;
 	type RuntimeFreezeReason = RuntimeFreezeReason;
 	type FreezeIdentifier = ();
-	type MaxHolds = ConstU32<2>;
+	// We allow each account to have holds on it from:
+	//   - `Nis`: 1
+	//   - `Preimage`: 1
+	//   - `Multisig`: 1
+	type MaxHolds = ConstU32<3>;
 	type MaxFreezes = ConstU32<1>;
 }
 
@@ -1377,7 +1390,7 @@ construct_runtime! {
 		Proxy: pallet_proxy::{Pallet, Call, Storage, Event<T>} = 30,
 
 		// Multisig module. Late addition.
-		Multisig: pallet_multisig::{Pallet, Call, Storage, Event<T>} = 31,
+		Multisig: pallet_multisig::{Pallet, Call, Storage, Event<T>, HoldReason} = 31,
 
 		// Preimage registrar.
 		Preimage: pallet_preimage::{Pallet, Call, Storage, Event<T>, HoldReason} = 32,
diff --git a/polkadot/runtime/westend/src/lib.rs b/polkadot/runtime/westend/src/lib.rs
index e0b9fd0fb53e..0d5324ac842a 100644
--- a/polkadot/runtime/westend/src/lib.rs
+++ b/polkadot/runtime/westend/src/lib.rs
@@ -304,7 +304,10 @@ impl pallet_balances::Config for Runtime {
 	type RuntimeFreezeReason = RuntimeFreezeReason;
 	type FreezeIdentifier = RuntimeFreezeReason;
 	type MaxFreezes = ConstU32<1>;
-	type MaxHolds = ConstU32<1>;
+	// We allow each account to have holds on it from:
+	//   - `Preimage`: 1
+	//   - `Multisig`: 1
+	type MaxHolds = ConstU32<2>;
 }
 
 parameter_types! {
@@ -894,14 +897,19 @@ parameter_types! {
 	// Additional storage item size of 32 bytes.
 	pub const DepositFactor: Balance = deposit(0, 32);
 	pub const MaxSignatories: u32 = 100;
+	pub const MultisigHoldReason: RuntimeHoldReason = RuntimeHoldReason::Multisig(pallet_multisig::HoldReason::Multisig);
 }
 
 impl pallet_multisig::Config for Runtime {
 	type RuntimeEvent = RuntimeEvent;
 	type RuntimeCall = RuntimeCall;
 	type Currency = Balances;
-	type DepositBase = DepositBase;
-	type DepositFactor = DepositFactor;
+	type Consideration = HoldConsideration<
+		AccountId,
+		Balances,
+		MultisigHoldReason,
+		LinearStoragePrice<DepositBase, DepositFactor, Balance>,
+	>;
 	type MaxSignatories = MaxSignatories;
 	type WeightInfo = weights::pallet_multisig::WeightInfo<Runtime>;
 }
@@ -1442,7 +1450,7 @@ construct_runtime! {
 		Proxy: pallet_proxy::{Pallet, Call, Storage, Event<T>} = 22,
 
 		// Multisig module. Late addition.
-		Multisig: pallet_multisig::{Pallet, Call, Storage, Event<T>} = 23,
+		Multisig: pallet_multisig::{Pallet, Call, Storage, Event<T>, HoldReason} = 23,
 
 		// Election pallet. Only works with staking, but placed here to maintain indices.
 		ElectionProviderMultiPhase: pallet_election_provider_multi_phase::{Pallet, Call, Storage, Event<T>, ValidateUnsigned} = 24,
diff --git a/prdoc/pr_1782.prdoc b/prdoc/pr_1782.prdoc
new file mode 100644
index 000000000000..28deb5bb83de
--- /dev/null
+++ b/prdoc/pr_1782.prdoc
@@ -0,0 +1,16 @@
+title: Migrates pallet-multisig to Consideration API
+
+doc:
+  - audience: Runtime Dev
+    description: |
+      Migrates Multisig pallet to use Consideration - an abstraction over storage deposits introduced in https://github.com/paritytech/polkadot-sdk/pull/1361
+
+migrations:
+  db: []
+
+  runtime: []
+
+crates:
+  - name: pallet-multisig
+
+host_functions: []
\ No newline at end of file
diff --git a/substrate/bin/node/runtime/src/lib.rs b/substrate/bin/node/runtime/src/lib.rs
index 6e7bfb4f4b42..4fe6728d2373 100644
--- a/substrate/bin/node/runtime/src/lib.rs
+++ b/substrate/bin/node/runtime/src/lib.rs
@@ -330,14 +330,19 @@ parameter_types! {
 	pub const DepositBase: Balance = deposit(1, 88);
 	// Additional storage item size of 32 bytes.
 	pub const DepositFactor: Balance = deposit(0, 32);
+	pub const MultisigHoldReason: RuntimeHoldReason = RuntimeHoldReason::Multisig(pallet_multisig::HoldReason::Multisig);
 }
 
 impl pallet_multisig::Config for Runtime {
 	type RuntimeEvent = RuntimeEvent;
 	type RuntimeCall = RuntimeCall;
 	type Currency = Balances;
-	type DepositBase = DepositBase;
-	type DepositFactor = DepositFactor;
+	type Consideration = HoldConsideration<
+		AccountId,
+		Balances,
+		MultisigHoldReason,
+		LinearStoragePrice<DepositBase, DepositFactor, Balance>,
+	>;
 	type MaxSignatories = ConstU32<100>;
 	type WeightInfo = pallet_multisig::weights::SubstrateWeight<Runtime>;
 }
@@ -533,7 +538,7 @@ impl pallet_balances::Config for Runtime {
 	type WeightInfo = pallet_balances::weights::SubstrateWeight<Runtime>;
 	type FreezeIdentifier = RuntimeFreezeReason;
 	type MaxFreezes = ConstU32<1>;
-	type MaxHolds = ConstU32<6>;
+	type MaxHolds = ConstU32<7>;
 }
 
 parameter_types! {
diff --git a/substrate/frame/multisig/src/benchmarking.rs b/substrate/frame/multisig/src/benchmarking.rs
index ebe19df5dc43..014031181e7a 100644
--- a/substrate/frame/multisig/src/benchmarking.rs
+++ b/substrate/frame/multisig/src/benchmarking.rs
@@ -81,7 +81,7 @@ benchmarks! {
 		frame_benchmarking::benchmarking::add_to_whitelist(caller_key.into());
 	}: as_multi(RawOrigin::Signed(caller), s as u16, signatories, None, call, Weight::zero())
 	verify {
-		assert!(Multisigs::<T>::contains_key(multi_account_id, call_hash));
+		assert!(MultisigsFor::<T>::contains_key(multi_account_id, call_hash));
 	}
 
 	as_multi_approve {
@@ -104,7 +104,7 @@ benchmarks! {
 		frame_benchmarking::benchmarking::add_to_whitelist(caller_key.into());
 	}: as_multi(RawOrigin::Signed(caller2), s as u16, signatories2, Some(timepoint), call, Weight::zero())
 	verify {
-		let multisig = Multisigs::<T>::get(multi_account_id, call_hash).ok_or("multisig not created")?;
+		let multisig = MultisigsFor::<T>::get(multi_account_id, call_hash).ok_or("multisig not created")?;
 		assert_eq!(multisig.approvals.len(), 2);
 	}
 
@@ -130,13 +130,13 @@ benchmarks! {
 			Multisig::<T>::as_multi(o, s as u16, signatories_loop, Some(timepoint), call.clone(), Weight::zero())?;
 		}
 		let caller2 = signatories2.remove(0);
-		assert!(Multisigs::<T>::contains_key(&multi_account_id, call_hash));
+		assert!(MultisigsFor::<T>::contains_key(&multi_account_id, call_hash));
 		// Whitelist caller account from further DB operations.
 		let caller_key = frame_system::Account::<T>::hashed_key_for(&caller2);
 		frame_benchmarking::benchmarking::add_to_whitelist(caller_key.into());
 	}: as_multi(RawOrigin::Signed(caller2), s as u16, signatories2, Some(timepoint), call, Weight::MAX)
 	verify {
-		assert!(!Multisigs::<T>::contains_key(&multi_account_id, call_hash));
+		assert!(!MultisigsFor::<T>::contains_key(&multi_account_id, call_hash));
 	}
 
 	approve_as_multi_create {
@@ -154,7 +154,7 @@ benchmarks! {
 		// Create the multi
 	}: approve_as_multi(RawOrigin::Signed(caller), s as u16, signatories, None, call_hash, Weight::zero())
 	verify {
-		assert!(Multisigs::<T>::contains_key(multi_account_id, call_hash));
+		assert!(MultisigsFor::<T>::contains_key(multi_account_id, call_hash));
 	}
 
 	approve_as_multi_approve {
@@ -184,7 +184,7 @@ benchmarks! {
 		frame_benchmarking::benchmarking::add_to_whitelist(caller_key.into());
 	}: approve_as_multi(RawOrigin::Signed(caller2), s as u16, signatories2, Some(timepoint), call_hash, Weight::zero())
 	verify {
-		let multisig = Multisigs::<T>::get(multi_account_id, call_hash).ok_or("multisig not created")?;
+		let multisig = MultisigsFor::<T>::get(multi_account_id, call_hash).ok_or("multisig not created")?;
 		assert_eq!(multisig.approvals.len(), 2);
 	}
 
@@ -201,13 +201,13 @@ benchmarks! {
 		// Create the multi
 		let o = RawOrigin::Signed(caller.clone()).into();
 		Multisig::<T>::as_multi(o, s as u16, signatories.clone(), None, call, Weight::zero())?;
-		assert!(Multisigs::<T>::contains_key(&multi_account_id, call_hash));
+		assert!(MultisigsFor::<T>::contains_key(&multi_account_id, call_hash));
 		// Whitelist caller account from further DB operations.
 		let caller_key = frame_system::Account::<T>::hashed_key_for(&caller);
 		frame_benchmarking::benchmarking::add_to_whitelist(caller_key.into());
 	}: _(RawOrigin::Signed(caller), s as u16, signatories, timepoint, call_hash)
 	verify {
-		assert!(!Multisigs::<T>::contains_key(multi_account_id, call_hash));
+		assert!(!MultisigsFor::<T>::contains_key(multi_account_id, call_hash));
 	}
 
 	impl_benchmark_test_suite!(Multisig, crate::tests::new_test_ext(), crate::tests::Test);
diff --git a/substrate/frame/multisig/src/lib.rs b/substrate/frame/multisig/src/lib.rs
index e4426c64b412..8b87c7acd173 100644
--- a/substrate/frame/multisig/src/lib.rs
+++ b/substrate/frame/multisig/src/lib.rs
@@ -55,7 +55,7 @@ use frame_support::{
 		PostDispatchInfo,
 	},
 	ensure,
-	traits::{Currency, Get, ReservableCurrency},
+	traits::{Consideration, Currency, Defensive, Footprint, Get, ReservableCurrency},
 	weights::Weight,
 	BoundedVec,
 };
@@ -63,7 +63,7 @@ use frame_system::{self as system, pallet_prelude::BlockNumberFor, RawOrigin};
 use scale_info::TypeInfo;
 use sp_io::hashing::blake2_256;
 use sp_runtime::{
-	traits::{Dispatchable, TrailingZeroInput, Zero},
+	traits::{Dispatchable, TrailingZeroInput},
 	DispatchError, RuntimeDebug,
 };
 use sp_std::prelude::*;
@@ -104,7 +104,7 @@ pub struct Timepoint<BlockNumber> {
 /// An open multisig operation.
 #[derive(Clone, Eq, PartialEq, Encode, Decode, Default, RuntimeDebug, TypeInfo, MaxEncodedLen)]
 #[scale_info(skip_type_params(MaxApprovals))]
-pub struct Multisig<BlockNumber, Balance, AccountId, MaxApprovals>
+pub struct OldMultisig<BlockNumber, Balance, AccountId, MaxApprovals>
 where
 	MaxApprovals: Get<u32>,
 {
@@ -118,14 +118,34 @@ where
 	approvals: BoundedVec<AccountId, MaxApprovals>,
 }
 
+/// An open multisig operation.
+#[derive(Clone, Eq, PartialEq, Encode, Decode, Default, RuntimeDebug, TypeInfo, MaxEncodedLen)]
+#[scale_info(skip_type_params(MaxApprovals))]
+pub struct Multisig<BlockNumber, Ticket, AccountId, MaxApprovals>
+where
+	MaxApprovals: Get<u32>,
+{
+	/// The extrinsic when the multisig operation was opened.
+	when: Timepoint<BlockNumber>,
+	/// The amount held in reserve of the `depositor`, to be returned once the operation ends.
+	ticket: Ticket,
+	/// The account who opened it (i.e. the first to approve it).
+	depositor: AccountId,
+	/// The approvals achieved so far, including the depositor. Always sorted.
+	approvals: BoundedVec<AccountId, MaxApprovals>,
+}
+
 type CallHash = [u8; 32];
 
+type TicketOf<T> = <T as Config>::Consideration;
+
 enum CallOrHash<T: Config> {
 	Call(<T as Config>::RuntimeCall),
 	Hash([u8; 32]),
 }
 
 #[frame_support::pallet]
+#[allow(deprecated)]
 pub mod pallet {
 	use super::*;
 	use frame_support::pallet_prelude::*;
@@ -145,20 +165,8 @@ pub mod pallet {
 		/// The currency mechanism.
 		type Currency: ReservableCurrency<Self::AccountId>;
 
-		/// The base amount of currency needed to reserve for creating a multisig execution or to
-		/// store a dispatch call for later.
-		///
-		/// This is held for an additional storage item whose value size is
-		/// `4 + sizeof((BlockNumber, Balance, AccountId))` bytes and whose key size is
-		/// `32 + sizeof(AccountId)` bytes.
-		#[pallet::constant]
-		type DepositBase: Get<BalanceOf<Self>>;
-
-		/// The amount of currency needed per unit threshold when creating a multisig execution.
-		///
-		/// This is held for adding 32 bytes more into a pre-existing storage value.
-		#[pallet::constant]
-		type DepositFactor: Get<BalanceOf<Self>>;
+		/// A means of providing some cost while data is stored on-chain.
+		type Consideration: Consideration<Self::AccountId>;
 
 		/// The maximum amount of signatories allowed in the multisig.
 		#[pallet::constant]
@@ -176,6 +184,7 @@ pub mod pallet {
 	pub struct Pallet<T>(_);
 
 	/// The set of open multisig operations.
+	#[deprecated = "MultisigsFor"]
 	#[pallet::storage]
 	pub type Multisigs<T: Config> = StorageDoubleMap<
 		_,
@@ -183,7 +192,18 @@ pub mod pallet {
 		T::AccountId,
 		Blake2_128Concat,
 		[u8; 32],
-		Multisig<BlockNumberFor<T>, BalanceOf<T>, T::AccountId, T::MaxSignatories>,
+		OldMultisig<BlockNumberFor<T>, BalanceOf<T>, T::AccountId, T::MaxSignatories>,
+	>;
+
+	/// The set of open multisig operations.
+	#[pallet::storage]
+	pub type MultisigsFor<T: Config> = StorageDoubleMap<
+		_,
+		Twox64Concat,
+		T::AccountId,
+		Blake2_128Concat,
+		[u8; 32],
+		Multisig<BlockNumberFor<T>, TicketOf<T>, T::AccountId, T::MaxSignatories>,
 	>;
 
 	#[pallet::error]
@@ -218,6 +238,13 @@ pub mod pallet {
 		AlreadyStored,
 	}
 
+	/// A reason for this pallet placing a hold on funds.
+	#[pallet::composite_enum]
+	pub enum HoldReason {
+		/// The funds are held as storage deposit for a multisig.
+		Multisig,
+	}
+
 	#[pallet::event]
 	#[pallet::generate_deposit(pub(super) fn deposit_event)]
 	pub enum Event<T: Config> {
@@ -476,14 +503,14 @@ pub mod pallet {
 			let signatories = Self::ensure_sorted_and_insert(other_signatories, who.clone())?;
 
 			let id = Self::multi_account_id(&signatories, threshold);
+			Self::ensure_updated(&id, &call_hash, threshold);
 
-			let m = <Multisigs<T>>::get(&id, call_hash).ok_or(Error::<T>::NotFound)?;
+			let m = <MultisigsFor<T>>::get(&id, call_hash).ok_or(Error::<T>::NotFound)?;
 			ensure!(m.when == timepoint, Error::<T>::WrongTimepoint);
 			ensure!(m.depositor == who, Error::<T>::NotOwner);
 
-			let err_amount = T::Currency::unreserve(&m.depositor, m.deposit);
-			debug_assert!(err_amount.is_zero());
-			<Multisigs<T>>::remove(&id, &call_hash);
+			let _ = m.ticket.drop(&m.depositor);
+			<MultisigsFor<T>>::remove(&id, &call_hash);
 
 			Self::deposit_event(Event::MultisigCancelled {
 				cancelling: who,
@@ -533,8 +560,10 @@ impl<T: Config> Pallet<T> {
 			CallOrHash::Hash(h) => (h, 0, None),
 		};
 
+		Self::ensure_updated(&id, &call_hash, threshold);
+
 		// Branch on whether the operation has already started or not.
-		if let Some(mut m) = <Multisigs<T>>::get(&id, call_hash) {
+		if let Some(mut m) = <MultisigsFor<T>>::get(&id, call_hash) {
 			// Yes; ensure that the timepoint exists and agrees.
 			let timepoint = maybe_timepoint.ok_or(Error::<T>::NoTimepoint)?;
 			ensure!(m.when == timepoint, Error::<T>::WrongTimepoint);
@@ -558,8 +587,8 @@ impl<T: Config> Pallet<T> {
 
 				// Clean up storage before executing call to avoid an possibility of reentrancy
 				// attack.
-				<Multisigs<T>>::remove(&id, call_hash);
-				T::Currency::unreserve(&m.depositor, m.deposit);
+				<MultisigsFor<T>>::remove(&id, call_hash);
+				let _ = m.ticket.drop(&m.depositor);
 
 				let result = call.dispatch(RawOrigin::Signed(id.clone()).into());
 				Self::deposit_event(Event::MultisigExecuted {
@@ -587,7 +616,7 @@ impl<T: Config> Pallet<T> {
 					m.approvals
 						.try_insert(pos, who.clone())
 						.map_err(|_| Error::<T>::TooManySignatories)?;
-					<Multisigs<T>>::insert(&id, call_hash, m);
+					<MultisigsFor<T>>::insert(&id, call_hash, m);
 					Self::deposit_event(Event::MultisigApproval {
 						approving: who,
 						timepoint,
@@ -609,20 +638,17 @@ impl<T: Config> Pallet<T> {
 			// Not yet started; there should be no timepoint given.
 			ensure!(maybe_timepoint.is_none(), Error::<T>::UnexpectedTimepoint);
 
-			// Just start the operation by recording it in storage.
-			let deposit = T::DepositBase::get() + T::DepositFactor::get() * threshold.into();
-
-			T::Currency::reserve(&who, deposit)?;
+			let ticket = T::Consideration::new(&who, Footprint::from_parts(1, threshold as usize))?;
 
 			let initial_approvals =
 				vec![who.clone()].try_into().map_err(|_| Error::<T>::TooManySignatories)?;
 
-			<Multisigs<T>>::insert(
+			<MultisigsFor<T>>::insert(
 				&id,
 				call_hash,
 				Multisig {
 					when: Self::timepoint(),
-					deposit,
+					ticket,
 					depositor: who.clone(),
 					approvals: initial_approvals,
 				},
@@ -665,6 +691,25 @@ impl<T: Config> Pallet<T> {
 		signatories.insert(index, who);
 		Ok(signatories)
 	}
+
+	pub(crate) fn ensure_updated(id: &T::AccountId, call_hash: &[u8; 32], threshold: u16) -> bool {
+		#[allow(deprecated)]
+		let r = match Multisigs::<T>::take(id, call_hash) {
+			Some(r) => r,
+			None => return false,
+		};
+		T::Currency::unreserve(&r.depositor, r.deposit);
+		// take consideration
+		let Ok(ticket) =
+			T::Consideration::new(&r.depositor, Footprint::from_parts(1, threshold as usize))
+				.defensive_proof("Unexpected inability to take deposit after unreserved")
+		else {
+			return true
+		};
+		let n = Multisig { when: r.when, ticket, depositor: r.depositor, approvals: r.approvals };
+		MultisigsFor::<T>::insert(id, call_hash, n);
+		true
+	}
 }
 
 /// Return the weight of a dispatch call result as an `Option`.
diff --git a/substrate/frame/multisig/src/tests.rs b/substrate/frame/multisig/src/tests.rs
index 179827255291..e0815066e4d6 100644
--- a/substrate/frame/multisig/src/tests.rs
+++ b/substrate/frame/multisig/src/tests.rs
@@ -24,9 +24,9 @@ use super::*;
 use crate as pallet_multisig;
 use frame_support::{
 	assert_noop, assert_ok, derive_impl,
-	traits::{ConstU32, ConstU64, Contains},
+	traits::{fungible::HoldConsideration, ConstU32, Contains},
 };
-use sp_runtime::{BuildStorage, TokenError};
+use sp_runtime::{bounded_vec, traits::Convert, BuildStorage, TokenError};
 
 type Block = frame_system::mocking::MockBlockU32<Test>;
 
@@ -51,6 +51,8 @@ impl frame_system::Config for Test {
 impl pallet_balances::Config for Test {
 	type ReserveIdentifier = [u8; 8];
 	type AccountStore = System;
+	type RuntimeHoldReason = ();
+	type MaxHolds = ConstU32<2>;
 }
 
 pub struct TestBaseCallFilter;
@@ -64,12 +66,19 @@ impl Contains<RuntimeCall> for TestBaseCallFilter {
 		}
 	}
 }
+
+pub struct ConvertDeposit;
+impl Convert<Footprint, u64> for ConvertDeposit {
+	fn convert(a: Footprint) -> u64 {
+		a.count + a.size
+	}
+}
+
 impl Config for Test {
 	type RuntimeEvent = RuntimeEvent;
 	type RuntimeCall = RuntimeCall;
 	type Currency = Balances;
-	type DepositBase = ConstU64<1>;
-	type DepositFactor = ConstU64<1>;
+	type Consideration = HoldConsideration<u64, Balances, (), ConvertDeposit>;
 	type MaxSignatories = ConstU32<3>;
 	type WeightInfo = ();
 }
@@ -96,6 +105,24 @@ fn call_transfer(dest: u64, value: u64) -> Box<RuntimeCall> {
 	Box::new(RuntimeCall::Balances(BalancesCall::transfer_allow_death { dest, value }))
 }
 
+/// Insert an un-migrated multisig.
+pub fn insert_old_multisig<T: Config>(
+	id: &T::AccountId,
+	call_hash: &[u8; 32],
+	depositor: T::AccountId,
+) {
+	let when: Timepoint<BlockNumberFor<T>> = crate::Pallet::<T>::timepoint();
+	let deposit: BalanceOf<T> = 123u32.into();
+	let n = OldMultisig {
+		when,
+		deposit,
+		depositor: depositor.clone(),
+		approvals: bounded_vec!(depositor),
+	};
+	#[allow(deprecated)]
+	Multisigs::<T>::insert(id, call_hash, n);
+}
+
 #[test]
 fn multisig_deposit_is_taken_and_returned() {
 	new_test_ext().execute_with(|| {
@@ -692,3 +719,24 @@ fn multisig_handles_no_preimage_after_all_approve() {
 		assert_eq!(Balances::free_balance(6), 15);
 	});
 }
+
+#[test]
+fn ensure_updated_works() {
+	#![allow(deprecated)]
+	new_test_ext().execute_with(|| {
+		let multi = Multisig::multi_account_id(&[1, 2, 3][..], 3);
+
+		let call = call_transfer(6, 15);
+		let call_hash = blake2_256(&call.encode());
+
+		insert_old_multisig::<Test>(&multi, &call_hash, 1);
+		assert_eq!(Multisigs::<Test>::iter().count(), 1);
+
+		assert_eq!(Multisig::ensure_updated(&multi, &call_hash, 3), true);
+		assert_eq!(Multisigs::<Test>::iter().count(), 0);
+		assert_eq!(MultisigsFor::<Test>::iter().count(), 1);
+
+		let updated_multisig = MultisigsFor::<Test>::get(&multi, &call_hash).unwrap();
+		assert_eq!(updated_multisig.depositor, 1);
+	});
+}