diff --git a/includes/settings.php b/includes/settings.php
index 7d0442d..f52a84e 100644
--- a/includes/settings.php
+++ b/includes/settings.php
@@ -215,12 +215,12 @@ public function updated_options( $option, $old_value, $new_value ) {
 		if ( $option == 'wp_currencies_settings' ) {
 			if ( $old_value != $new_value ) {
 
+				wp_clear_scheduled_hook( 'wp_currencies_update' );
+
 				// Makes sure we have an API key (won't tell if valid, but at least is not empty).
 				$api_key = isset( $new_value['api_key'] ) ? $new_value['api_key'] : ( isset( $old_value['api_key'] ) ? $old_value['api_key'] : '' );
 				if ( ! empty( $api_key ) ) {
 
-					wp_clear_scheduled_hook( 'wp_currencies_update' );
-
 					// Has this ever been scheduled before?
 					if ( ! wp_next_scheduled( 'wp_currencies_update' ) ) {
 						wp_schedule_event( time(), $new_value['update_interval'], 'wp_currencies_update' );