Peltier’s effect: -

The phenomenon of absorption of heat at one junction and the emission of heat at other junction of a thermocouple when the current is passed through it is called Peltier’s effect. The junction where heat is absorbed becomes hot and the junction where heat is emitted becomes cold. Hence Peltier’s effect works on inverse of Seeback effect.

Thomson’s effect: -

The phenomenon of absorption of heat at one end, and emission of heat at the other end of a conductor when it’s one end is made hot and the other end cold. The current passed through it is called Thomson’s current.