diff --git a/accounts/account_manager.go b/accounts/account_manager.go
index 646dc8376e..670d4337f3 100644
--- a/accounts/account_manager.go
+++ b/accounts/account_manager.go
@@ -208,3 +208,23 @@ func zeroKey(k *ecdsa.PrivateKey) {
 		b[i] = 0
 	}
 }
+
+func (am *Manager) Export(path string, addr []byte, keyAuth string) error {
+	key, err := am.keyStore.GetKey(addr, keyAuth)
+	if err != nil {
+		return err
+	}
+	return crypto.SaveECDSA(path, key.PrivateKey)
+}
+
+func (am *Manager) Import(path string, keyAuth string) (Account, error) {
+	privateKeyECDSA, err := crypto.LoadECDSA(path)
+	if err != nil {
+		return Account{}, err
+	}
+	key := crypto.NewKeyFromECDSA(privateKeyECDSA)
+	if err = am.keyStore.StoreKey(key, keyAuth); err != nil {
+		return Account{}, err
+	}
+	return Account{Address: key.Address}, nil
+}
diff --git a/cmd/ethereum/main.go b/cmd/ethereum/main.go
index 2f417aacb7..276480195e 100644
--- a/cmd/ethereum/main.go
+++ b/cmd/ethereum/main.go
@@ -26,11 +26,11 @@ import (
 	"os"
 	"runtime"
 	"strconv"
-	"strings"
 	"time"
 
 	"github.com/codegangsta/cli"
 	"github.com/ethereum/ethash"
+	"github.com/ethereum/go-ethereum/accounts"
 	"github.com/ethereum/go-ethereum/cmd/utils"
 	"github.com/ethereum/go-ethereum/common"
 	"github.com/ethereum/go-ethereum/core/state"
@@ -83,11 +83,62 @@ The output of this command is supposed to be machine-readable.
 					Action: accountList,
 					Name:   "list",
 					Usage:  "print account addresses",
+					Description: `
+
+`,
 				},
 				{
 					Action: accountCreate,
 					Name:   "new",
 					Usage:  "create a new account",
+					Description: `
+
+    ethereum account new
+
+Creates a new accountThe account is saved in encrypted format, you are prompted for a passphrase.
+You must remember this passphrase to unlock your account in future.
+For non-interactive use the passphrase can be specified with the --password flag:
+
+    ethereum --password <passwordfile> account new
+
+					`,
+				},
+				{
+					Action: accountImport,
+					Name:   "import",
+					Usage:  "import a private key into a new account",
+					Description: `
+
+    ethereum account import <keyfile>
+
+Imports a private key from <keyfile> and creates a new account with the address derived from the key.
+The keyfile is assumed to contain an unencrypted private key in canonical EC format.
+
+The account is saved in encrypted format, you are prompted for a passphrase.
+You must remember this passphrase to unlock your account in future.
+For non-interactive use the passphrase can be specified with the --password flag:
+
+    ethereum --password <passwordfile> account import <keyfile>
+
+					`,
+				},
+				{
+					Action: accountExport,
+					Name:   "export",
+					Usage:  "export an account into key file",
+					Description: `
+
+    ethereum account export <address> <keyfile>
+
+Exports the given account's private key into keyfile using the canonical EC format.
+The account needs to be unlocked, if it is not the user is prompted for a passphrase to unlock it.
+For non-interactive use, the password can be specified with the --unlock flag:
+
+    ethereum --unlock <passwrdfile> account export <address> <keyfile>
+
+Note:
+Since you can directly copy your encrypted accounts to another ethereum instance, this import/export mechanism is not needed when you transfer an account between nodes.
+					`,
 				},
 			},
 		},
@@ -130,6 +181,7 @@ The Ethereum JavaScript VM exposes a node admin interface as well as the DAPP Ja
 	}
 	app.Flags = []cli.Flag{
 		utils.UnlockedAccountFlag,
+		utils.PasswordFileFlag,
 		utils.BootnodesFlag,
 		utils.DataDirFlag,
 		utils.JSpathFlag,
@@ -218,23 +270,43 @@ func execJSFiles(ctx *cli.Context) {
 	ethereum.WaitForShutdown()
 }
 
-func startEth(ctx *cli.Context, eth *eth.Ethereum) {
-	utils.StartEthereum(eth)
+func unlockAccount(ctx *cli.Context, am *accounts.Manager, account string) (passphrase string) {
+	if !ctx.GlobalBool(utils.UnencryptedKeysFlag.Name) {
+		var err error
+		// Load startup keys. XXX we are going to need a different format
+		// Attempt to unlock the account
+		passfile := ctx.GlobalString(utils.PasswordFileFlag.Name)
+		if len(passfile) == 0 {
+			fmt.Println("Please enter a passphrase now.")
+			auth, err := readPassword("Passphrase: ", true)
+			if err != nil {
+				utils.Fatalf("%v", err)
+			}
 
-	// Load startup keys. XXX we are going to need a different format
-	account := ctx.GlobalString(utils.UnlockedAccountFlag.Name)
-	if len(account) > 0 {
-		split := strings.Split(account, ":")
-		if len(split) != 2 {
-			utils.Fatalf("Illegal 'unlock' format (address:password)")
+			passphrase = auth
+
+		} else {
+			if passphrase, err = common.ReadAllFile(passfile); err != nil {
+				utils.Fatalf("Unable to read password file '%s': %v", passfile, err)
+			}
 		}
-		am := eth.AccountManager()
-		// Attempt to unlock the account
-		err := am.Unlock(common.FromHex(split[0]), split[1])
+
+		err = am.Unlock(common.FromHex(account), passphrase)
 		if err != nil {
 			utils.Fatalf("Unlock account failed '%v'", err)
 		}
 	}
+	return
+}
+
+func startEth(ctx *cli.Context, eth *eth.Ethereum) {
+	utils.StartEthereum(eth)
+	am := eth.AccountManager()
+
+	account := ctx.GlobalString(utils.UnlockedAccountFlag.Name)
+	if len(account) > 0 {
+		unlockAccount(ctx, am, account)
+	}
 	// Start auxiliary services if enabled.
 	if ctx.GlobalBool(utils.RPCEnabledFlag.Name) {
 		utils.StartRPC(eth, ctx)
@@ -255,30 +327,74 @@ func accountList(ctx *cli.Context) {
 	}
 }
 
-func accountCreate(ctx *cli.Context) {
-	am := utils.GetAccountManager(ctx)
-	passphrase := ""
+func getPassPhrase(ctx *cli.Context) (passphrase string) {
 	if !ctx.GlobalBool(utils.UnencryptedKeysFlag.Name) {
-		fmt.Println("The new account will be encrypted with a passphrase.")
-		fmt.Println("Please enter a passphrase now.")
-		auth, err := readPassword("Passphrase: ", true)
-		if err != nil {
-			utils.Fatalf("%v", err)
-		}
-		confirm, err := readPassword("Repeat Passphrase: ", false)
-		if err != nil {
-			utils.Fatalf("%v", err)
-		}
-		if auth != confirm {
-			utils.Fatalf("Passphrases did not match.")
+		passfile := ctx.GlobalString(utils.PasswordFileFlag.Name)
+		if len(passfile) == 0 {
+			fmt.Println("The new account will be encrypted with a passphrase.")
+			fmt.Println("Please enter a passphrase now.")
+			auth, err := readPassword("Passphrase: ", true)
+			if err != nil {
+				utils.Fatalf("%v", err)
+			}
+			confirm, err := readPassword("Repeat Passphrase: ", false)
+			if err != nil {
+				utils.Fatalf("%v", err)
+			}
+			if auth != confirm {
+				utils.Fatalf("Passphrases did not match.")
+			}
+			passphrase = auth
+
+		} else {
+			var err error
+			if passphrase, err = common.ReadAllFile(passfile); err != nil {
+				utils.Fatalf("Unable to read password file '%s': %v", passfile, err)
+			}
 		}
-		passphrase = auth
 	}
+	return
+}
+
+func accountCreate(ctx *cli.Context) {
+	am := utils.GetAccountManager(ctx)
+	passphrase := getPassPhrase(ctx)
 	acct, err := am.NewAccount(passphrase)
 	if err != nil {
 		utils.Fatalf("Could not create the account: %v", err)
 	}
-	fmt.Printf("Address: %x\n", acct.Address)
+	fmt.Printf("Address: %x\n", acct)
+}
+
+func accountImport(ctx *cli.Context) {
+	keyfile := ctx.Args().First()
+	if len(keyfile) == 0 {
+		utils.Fatalf("keyfile must be given as argument")
+	}
+	am := utils.GetAccountManager(ctx)
+	passphrase := getPassPhrase(ctx)
+	acct, err := am.Import(keyfile, passphrase)
+	if err != nil {
+		utils.Fatalf("Could not create the account: %v", err)
+	}
+	fmt.Printf("Address: %x\n", acct)
+}
+
+func accountExport(ctx *cli.Context) {
+	account := ctx.Args().First()
+	if len(account) == 0 {
+		utils.Fatalf("account address must be given as first argument")
+	}
+	keyfile := ctx.Args().Get(1)
+	if len(keyfile) == 0 {
+		utils.Fatalf("keyfile must be given as second argument")
+	}
+	am := utils.GetAccountManager(ctx)
+	auth := unlockAccount(ctx, am, account)
+	err := am.Export(keyfile, common.FromHex(account), auth)
+	if err != nil {
+		utils.Fatalf("Account export failed: %v", err)
+	}
 }
 
 func importchain(ctx *cli.Context) {
diff --git a/cmd/utils/flags.go b/cmd/utils/flags.go
index 94b043d730..f94ec3a691 100644
--- a/cmd/utils/flags.go
+++ b/cmd/utils/flags.go
@@ -104,7 +104,13 @@ var (
 	}
 	UnlockedAccountFlag = cli.StringFlag{
 		Name:  "unlock",
-		Usage: "Unlock a given account untill this programs exits (address:password)",
+		Usage: "unlock the account given until this program exits (prompts for password).",
+		Value: "",
+	}
+	PasswordFileFlag = cli.StringFlag{
+		Name:  "password",
+		Usage: "Password used when saving a new account and unlocking an existing account. If you create a new account make sure you remember this password.",
+		Value: "",
 	}
 
 	// logging and debug settings
diff --git a/crypto/crypto.go b/crypto/crypto.go
index c3d47b6293..2d26dd25ea 100644
--- a/crypto/crypto.go
+++ b/crypto/crypto.go
@@ -139,6 +139,11 @@ func LoadECDSA(file string) (*ecdsa.PrivateKey, error) {
 	return ToECDSA(buf), nil
 }
 
+// SaveECDSA saves a secp256k1 private key from the given file.
+func SaveECDSA(file string, key *ecdsa.PrivateKey) error {
+	return common.WriteFile(file, FromECDSA(key))
+}
+
 func GenerateKey() (*ecdsa.PrivateKey, error) {
 	return ecdsa.GenerateKey(S256(), rand.Reader)
 }
diff --git a/crypto/key.go b/crypto/key.go
index 9dbf374675..0b84bfec16 100644
--- a/crypto/key.go
+++ b/crypto/key.go
@@ -85,6 +85,16 @@ func (k *Key) UnmarshalJSON(j []byte) (err error) {
 	return err
 }
 
+func NewKeyFromECDSA(privateKeyECDSA *ecdsa.PrivateKey) *Key {
+	id := uuid.NewRandom()
+	key := &Key{
+		Id:         id,
+		Address:    PubkeyToAddress(privateKeyECDSA.PublicKey),
+		PrivateKey: privateKeyECDSA,
+	}
+	return key
+}
+
 func NewKey(rand io.Reader) *Key {
 	randBytes := make([]byte, 64)
 	_, err := rand.Read(randBytes)
@@ -97,11 +107,5 @@ func NewKey(rand io.Reader) *Key {
 		panic("key generation: ecdsa.GenerateKey failed: " + err.Error())
 	}
 
-	id := uuid.NewRandom()
-	key := &Key{
-		Id:         id,
-		Address:    PubkeyToAddress(privateKeyECDSA.PublicKey),
-		PrivateKey: privateKeyECDSA,
-	}
-	return key
+	return NewKeyFromECDSA(privateKeyECDSA)
 }