diff --git a/UPGRADING.md b/UPGRADING.md
index 2a3e6a0c..6abbe46e 100644
--- a/UPGRADING.md
+++ b/UPGRADING.md
@@ -12,6 +12,16 @@ const config: Knex.Config = {} // this is a type from the Knex namespace
 const knexInstance: Knex = knex(config)
 ```
 
+* Transaction rollback does not trigger a promise rejection for transactions with specified handler. If you want to preserve previous behavior, pass `config` object with `doNotRejectOnRollback: false`:
+```javascript
+  await knex.transaction(async trx => {
+    const ids = await trx('catalogues')
+      .insert({
+        name: 'Old Books'
+      }, 'id')
+  }, { doNotRejectOnRollback: false });
+```
+
 * Connection url parsing changed from legacy [url.parse](https://nodejs.org/docs/latest-v10.x/api/url.html#url_legacy_url_api) to [WHATWG URL](https://nodejs.org/docs/latest-v10.x/api/url.html#url_the_whatwg_url_api). If you have symbols, unusual for a URL (not A-z, not digits, not dot, not dash) - check [Node.js docs](https://nodejs.org/docs/latest-v10.x/api/url.html#url_percent_encoding_in_urls) for details
 
 * `Knex.raw` support dropped, use `knex.raw` (`require('knex').raw()` won't work anymore)
diff --git a/lib/knex-builder/make-knex.js b/lib/knex-builder/make-knex.js
index df8c01d4..4b6956c9 100644
--- a/lib/knex-builder/make-knex.js
+++ b/lib/knex-builder/make-knex.js
@@ -133,9 +133,7 @@ function initContext(knexFn) {
       const config = Object.assign({}, _config);
       config.userParams = this.userParams || {};
       if (config.doNotRejectOnRollback === undefined) {
-        // Backwards-compatibility: default value changes depending upon
-        // whether or not a `container` was provided.
-        config.doNotRejectOnRollback = !container;
+        config.doNotRejectOnRollback = true;
       }
 
       return this._transaction(container, config);
diff --git a/package.json b/package.json
index 6051d04d..088f64a3 100644
--- a/package.json
+++ b/package.json
@@ -55,7 +55,7 @@
     "tildify": "2.0.0"
   },
   "peerDependencies": {
-    "mssql": "^6.3.0",
+    "mssql": "^6.3.1",
     "mysql": "^2.18.1",
     "mysql2": "^2.2.5",
     "pg": "^8.5.1",
@@ -85,7 +85,7 @@
     ]
   },
   "devDependencies": {
-    "@types/node": "^14.14.16",
+    "@types/node": "^14.14.19",
     "chai": "^4.2.0",
     "chai-as-promised": "^7.1.1",
     "chai-subset-in-order": "^2.1.4",
@@ -93,7 +93,7 @@
     "coveralls": "^3.1.0",
     "cross-env": "^7.0.3",
     "dtslint": "4.0.6",
-    "eslint": "^7.16.0",
+    "eslint": "^7.17.0",
     "eslint-config-prettier": "^7.1.0",
     "eslint-plugin-import": "^2.22.1",
     "husky": "^4.3.6",
@@ -102,7 +102,7 @@
     "lint-staged": "^10.5.3",
     "mocha": "^8.2.1",
     "mock-fs": "^4.13.0",
-    "mssql": "^6.3.0",
+    "mssql": "^6.3.1",
     "mysql": "^2.18.1",
     "mysql2": "^2.2.5",
     "nyc": "^15.1.0",
@@ -116,7 +116,7 @@
     "source-map-support": "^0.5.19",
     "sqlite3": "^5.0.0",
     "tap-spec": "^5.0.0",
-    "tape": "^5.0.1",
+    "tape": "^5.1.0",
     "toxiproxy-node-client": "^2.0.6",
     "ts-node": "^9.1.1",
     "tsd": "^0.14.0",
diff --git a/test/integration/execution/transaction.js b/test/integration/execution/transaction.js
index 81321ed8..0fb657ab 100644
--- a/test/integration/execution/transaction.js
+++ b/test/integration/execution/transaction.js
@@ -587,9 +587,14 @@ module.exports = function (knex) {
 
     it('Rollback without an error should not reject with undefined #1966', function () {
       return knex
-        .transaction(function (tr) {
-          tr.rollback();
-        })
+        .transaction(
+          function (tr) {
+            tr.rollback();
+          },
+          {
+            doNotRejectOnRollback: false,
+          }
+        )
         .then(function () {
           expect(true).to.equal(false, 'Transaction should not have commited');
         })
diff --git a/test/unit/knex.js b/test/unit/knex.js
index dbbd5d1c..785e9761 100644
--- a/test/unit/knex.js
+++ b/test/unit/knex.js
@@ -511,6 +511,15 @@ describe('knex', () => {
       return knex.destroy();
     });
 
+    it('does not reject transaction by default when handler is provided and there is a rollback', async () => {
+      const knex = Knex(sqliteConfig);
+      await knex.transaction((trx) => {
+        trx.rollback();
+      });
+
+      return knex.destroy();
+    });
+
     it('rejects execution promise if there was a manual rollback and transaction is set to reject', async () => {
       const knex = Knex(sqliteConfig);