Terms and Conditions of the LHV User Environment
Effective as of 13.03.2024
In the LHV User Environment, you can access the products, services and offers of the companies belonging to AS LHV Group (LHV Bank, LHV Finance, LHV Insurance and LHV Asset Management), enter into and manage agreements, and use other functionalities of the User Environment.
General Provisions
- These LHV User Environment Terms and Conditions govern the relationship between the Bank and the User in relation to the use of the User Environment (hereinafter ‘Terms and Conditions’). In addition to the Terms and Conditions, the Bank and the User, when using the User Environment, shall be governed by the General Conditions of AS LHV Pank, the Technical conditions of internet banking and other relevant terms and conditions established by the Group company, which together constitute the LHV User Environment Agreement (hereinafter the ‘Agreement’).
- In the Terms and Conditions, the terms used in the Bank’s General Conditions as well as the following terms shall be used:
- User Environment is the part of the Website that the User can access through the Security Elements or the LHV mobile application;
- User is a natural person who uses the User Environment and/or performs Operations through the User Environment;
- Technical Conditions are the requirements established by the Bank for means of communications and connections to be used for conducting Operations, available on the Bank’s Website;
- Operation is the use of the functionalities of the User Environment, the viewing of information and/or documents or the use of the Service through the User Environment.
- Upon the conclusion of the User Environment Agreement, the Bank shall have the right to submit all notices, including declarations of intention, to the Client via the User Environment, unless otherwise provided by the terms and conditions established by the Group company or the imperative provisions.
- The Agreement shall be governed by the laws of the Republic of Estonia.
- Should the User conclude an Internet Banking agreement with the Bank, the Parties shall apply the Conditions of internet banking to the use of the User Environment.
Identification and Security Requirements
- In order to use the User Environment, the User’s communication means and connections must comply with the Technical conditions of the Internet Bank established by the Bank.
- When using the User Environment, the User is responsible for the security of the communication device (including computer, mobile phone, etc.) and the internet connection used.
- The User is obliged to perform the obligations arising from the Law of Obligations Act and the Agreement.
- The User shall be identified and the Operations conducted via the use of Security Elements. The use of a Security Element when performing an Operation is equivalent to the User’s signature.
- The User accepts that any Operations conducted via the use of Security Elements shall be deemed valid, and subject to performance (incl. being authorised within the meaning of the Law of Obligations Act), unless specified otherwise by the imperative provisions.
- A User may only use the User Environment and perform Operations in a personal capacity.
- The User is obliged to make sure that parties not authorised to use the User Environment do not uncover or obtain possession of the Security Elements. The User must do their utmost to protect the Security Elements, including memorise the Security Elements, rather than storing the Security Elements on a data carrier, and safeguard the Security Elements with a level of conscientiousness that prevents their misuse by unauthorised third parties (incl. if the Security Element is e-mailed by the Bank, to delete the e-mail letter immediately after memorising the Security Elements; or if the Security Elements were issued at the Bank’s branch office, to destroy the paper containing the Security Elements immediately after memorising the Security Elements).
- In the case of the use of a digital signature, mobile ID or Smart-ID certificate, the User is also obliged to fulfil the obligations agreed upon with the corresponding certification service provider, as well as the obligations arising from legal acts.
- In the case where the Security Elements have been lost or stolen or have become or may have become known to a third party, the User shall be obliged to immediately notify the Bank thereof on the telephone number during the business hours published on the Bank’s Website. In the case of a digital signature, mobile ID or Smart-ID certificate, the User is also obliged to immediately notify the respective certification service provider (e.g., SK ID Solutions AS) or the mobile operator. Upon receiving the above information, the Bank shall block the User’s access to the Internet Bank until the replacement of the Security Elements or until the Client or the User submits an acceptable instruction to the Bank to unblock the Internet Bank.
- In addition to that which is provided in clause 2.9, the Bank has the right to block the User’s access to the User Environment on its own initiative if:
- the User has entered Security Elements incorrectly in the User Environment three (3) times in a row;
- the Bank has become aware of a circumstance from which it can be reasonably concluded that a person not authorised to use the User Environment has become aware of the Security Elements;
- the use of the User Environment may be related to fraud on the part of the User;
- the User has breached an obligation under the Agreement;
- there are other grounds for blocking set out in the General Conditions or in the terms and conditions established by the Group company;
- other considerations to ensure the security of the User.
- Unless otherwise provided by the imperative provisions, the Bank shall not be held liable for any damage caused to the User or a third party resulting from the blocking of the User Environment in accordance with these Terms and Conditions and/or the terms and conditions established by a Group company.
Using the User Environment
- In addition to the Bank, other Group companies also provide their services to the User through the User Environment. The Bank is not responsible for the services of other Group companies.
- Through the User Environment, the User can perform Operations offered by the Bank and other Group companies, view information related to Operations, view advertising and receive offers from the Bank and other Group companies and use other functionalities, subject to the technical capabilities of the User Environment.
- The Bank and the other Group companies, which provide the User with the possibility to carry out the offered Operations through the User Environment, are joint controllers when it comes to the processing of the User’s personal data. The processing of the User’s personal data is described in the Principles of Processing Customer Data.
- The User has the right to perform Operations through the User Environment in accordance with the Terms and Konditions agreed upon in the Agreement and the relevant terms and conditions established by the Group company. The Bank shall have the right to establish the service providers, during which the Operations may be conducted via the User Environment.
- The User must not use the User Environment in an inappropriate manner (including for illegal activities or in a manner that may cause damage to the Bank or a third party) or provide false information.
- All Operations must be carried out in accordance with the Agreement and other relevant terms and conditions established by the Group company. The Bank shall not be obliged to fulfil orders placed in violation of this clause.
- When using the User Environment, the User undertakes to comply with the Technical conditions of internet banking and other instructions provided by the Bank on the Website and in the User Environment regarding the proper and safe use of the User Environment and the Security Elements. If the User fails to fulfil the requirements of the instructions given by the Bank, the Bank shall have the right not to fulfil the order and/or prohibit any further Operations.
- Statements of intent made by the User through the User Environment will be deemed to have been made by and on behalf of the User if the User has identified itself in accordance with the agreed Security Element and has expressed its intent for a specific transaction in accordance with the instructions given in the User Environment, which may include, inter alia, clicking on the icon indicating the expression of intent.
- The Bank presumes that all declarations of intent submitted via the User Environment have been submitted and/or approved by the person to whom the corresponding Security Elements have been issued.
- The Bank shall have the right to record the telephone calls indicated in the Terms and Conditions, as well as any User Environment communication sessions and, if necessary, use the recordings as evidence of the performed Operations.
- The User has the right to receive information about the Operations in the User Environment and/or from the Bank’s service centres.
- The User is obliged to immediately inform the Bank of any errors or disruptions that prevent the use of the User Environment, as well as of any unauthorised Operations.
Validity, amendment and termination of the Agreement
- The Agreement enters into force from the moment of conclusion (acceptance of the Terms and Condition) and is concluded for an indefinite period.
- The Bank has the right to unilaterally amend the Agreement.
- The Bank shall notify the User of any changes at the Bank’s service centres, on the Website or by any other means chosen by the Bank (e.g., by post or e-mail or through a national daily newspaper) at least one (1) month before the entry into force of the respective changes unless otherwise provided by law.
- If the User does not agree to the changes, the User has the right to terminate the Agreement by notifying the Bank in writing within the time limit specified in clause 4.3 or by any other means accepted by the Bank.
- The User has the right to terminate the Agreement in writing or by any other means accepted by the Bank without prior notice if it has no valid agreements with any Group company and has not submitted a letter of intent to any Group company in respect of which no Operations have been completed.
- The Bank shall have the right to unilaterally terminate the Agreement by notifying the User thereof in the manner chosen by the Bank (e.g., by post or e-mail) at least one (1) month in advance.
- The Bank has the right to unilaterally terminate the Agreement without prior notice in the following cases:
- the User breaches any term or condition of the Agreement or the General Conditions or any terms and conditions in an agreement concluded with a Group company;
- during the 24-month period preceding the termination of the Agreement, the User has not performed any Operations, has not submitted any letter of intent to any Group company and has no valid agreements with any Group company.
Liability
- The Parties shall be liable in accordance with the provisions of the Terms and Conditions, the General Conditions, the relevant terms and conditions established by the Group company and as prescribed in legislation.
- If an unauthorised payment in the meaning of the Law of Obligations Act has been made by using lost or stolen Security Elements, or if the Security Elements have been used in another unauthorised manner, and if the User has failed to safeguard the Security Elements as required, the User shall be held responsible to the extent and pursuant to the procedure provided by the General Conditions.
Resolution of disagreements
- Any disputes between the User and the Bank shall be settled pursuant to the procedure provided by the General Conditions.
