It seems like the same concept of the other dozens of “shopping portals” out there such as
https://www.mrrebates.com/ (not an endorsement), credit card companies all seem to have their own portals where you receive cash back.
I have never used any, mostly because it looks I don’t shop at most of the stores they have deals with. The link I listed has Lowe’s and Home Depot 1%, Walgreens 3% which I don’t do enough shopping at to probably make it worthwhile.
A potential negative with depositing the money into an IRA directly, is unless you are depositing additional money into the IRA it might not be worthwhile to be investing tens of dollars into the stock market, and if you take the trouble to move the money to a different IRA, you might as well just use a different cash back portal and not have to worry about transferring money around.
A potential benefit is “forced savings”, but I might argue people jumping through hoops to save an extra 1% might already be good at saving money.
So unless their system has has some benefits over other portals (more stores, higher rebates, easier to use) just the fact that it goes into an IRA would be a negative for me, I would have another account open and would probably transfer the $20.00 I made out at the end of the year.