Glossary

Connect API specific terminology that is used throughout this guide

• Contract - A connect contract is tied to a customer certificate and it illustrates the services that a customer can access

• EEA (European Economic Area country) - Refers to countries that are part of the European Economic Area, which extends the European Union (EU) single market to non-EU member states.

• Faster - A payment in GBP to a bank in the UK that is a member of the Faster Payment System (FPS), including a list of FPS participants.

• Group - Payment transactions from/to LHV Pank (EE) to/from LHV Bank (UK).

• Internal - Payment transactions within LHV Pank, specifically from an account opened in LHV Pank (EE) to an account opened in LHV Pank (EE), or from an account opened in LHV Pank (UK) to an account opened in LHV Pank (UK).

• SEPA (Single Euro Payments Area) - The area where citizens, companies, and others can make and receive payments in EUR, across Europe, as easily as they do in their home country, including a list of countries belonging to the SEPA area.

• SEPA Credit Transfer - Also known as SEPA payment or European payment, it's a payment in EUR to a bank within the SEPA area that is a member of the STEP2 SCT or T2 payment clearing and settlement systems, including lists of STEP2 SCT and T2 participants.

• SEPA Instant Credit Transfer - Also referred to as instant payment, it's a payment in EUR to a bank within the SEPA area which is a member of the RT1 or TIPS payment clearing and settlement systems, including lists of RT1 and TIPS participants.

• Swift - In LHV Pank (EE), the product name is Foreign Payment. It includes payments in currencies other than EUR, or in EUR but cannot be settled on RT1, TIPS, STEP2 SCT, specifying the conditions when SWIFT rules apply, and noting the scenario where if the receiving bank is not located in the SEPA area but the payment currency is EUR, then the payment is settled if possible in T2 and swift payment fees apply.

• T2 - Refers to the TARGET2 payment system, detailing when SEPA or SWIFT rules apply based on the location of the beneficiary bank and its reachability via the T2 system, including a list of T2 participants.