Citibank has launched a Facebook (News - Alert) app that allows customers to group together and share credit card rewards online. It’s connecting its ‘social currency’ to social media.

On Tuesday, the bank launched a Facebook application, ThankYou Point Sharing App, that builds on a service Citi introduced last year that lets customers transfer points to one another on the bank’s homepage.

“Now we’re delivering it to where customers are every day,” said Ralph Andretta, who heads Citi’s loyalty programs and co-branded cards.

The program is also available to Citibank checking account customers, who can earn ThankYou points.

The Citi ThankYou rewards mobile app is available for iPhone (News - Alert) or Android devices and provides an easy way to turn points in to Best Buy merchandise. The app works whether users are in a Best Buy store and can physically scan items of choice, or when users are not in a Best Buy (News - Alert) store and can browse items on the app.

Affinity Solutions, the leading provider of partner-funded customer loyalty programs in the U.S., launched the Android version of its Rewards Finder app, a mobile application for bank rewards customers, in April last year. The app uses GPS technologies to tag (News - Alert) surrounding participating merchants that offer cash back percentages through the Sovereign Cash Rewards debit card program, and will also allow customers to find a nearby Sovereign ATMs.

Through the ThankYou Point Sharing Facebook App, users can promote their goals by sharing links on Facebook pages or privately invite other Citi customers to contribute.

Andretta noted that customers will have far more flexibility with their points, and can start the pool by naming a recipient and explaining its purpose. The company is giving away 2,500 free rewards points to each of the first 4,000 customers to sign up.

Donors can see the total number of points a cause has received, but only the recipient of the points maintains control of any contributions. The recipients must be individuals and not an organization, even if the intended goal is a charitable donation.

The app can collect personal information from Facebook profiles, but Citi says it does not share any customer account information with Facebook.

The app can be found for download on the bank’s Facebook page.

Understanding the caps, expiration dates and redemption process for cashback credit-card rewards program is one of the 101 ways to save money in the new year, according to a recent article by The Seattle Times.