Every household has one thing in common…
A box/container full of old and broken electronics!
We all have a box full of unused electronics – old cell phones, broken iPads, 30-year old black & white TV, chargers that you don’t even know what devices they belong to…
The green/planet friendly side of you won’t let you throw ’em in the garbage.
And the frugal side of you wants to get something out of ’em before letting them go.
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“Only if there was a way or a store near me that would give me cash for these suckers!”
Well, there is a way.
You know those ATMs that you seem to come in contact with only when you’re in a casino or a bar? Yes, those machines that magically spit out cash when you put your card in! There is a new kind of ’em that spits out cash if you put an electronic device in it!
That’s right, you can now get paid for recycling electronics instantly.
This ATM takes the old electronic gadgets that you may no longer need or want and gives you cash in return.
How crazy is that?
What will I learn?
Trade Broken/Old/Unused Electronics for Cash Locally
This amazing concept is the idea of EcoATM, a company based in San Diego.
They have taken the “paid recycling” idea to a whole new level.
And if you’re worried about this idea and the company really paying, rest assure that all research points to this being a real company with a real idea that works.
The company was named as a 2011 CES Design and Engineering Award Honoree by the Consumer Electronic Association or CEA.
In addition, the company recently got their first round of funding at $14.4 million. Coinstar was one of the companies that actually invested into this company.
EcoATM has also won the “Next Great Idea Challenge” by Coinstar.
The first EcoATM was installed in September 2009. And as of July 2014, there are 1,100 kiosks in malls and large retailers in 41 states.
These EcoATM’s have collected over three millionth device to date!
Now that is amazing!
And if you care about the environment and energy saving, you’re gonna love this – in 2013, the collections from the ecoATM network of kiosks saved enough energy to power more than 2,750 U.S. homes. Not to mention, the amount of hazardous waste it reduced equals to the weight of about 267 refrigerators.
How Does EcoATM Work?
Using the machine is very simple.
Here is how:
- First, get your old/broken/unused/unwanted gadget ready.
- Next, locate an EcoATM near you by visiting ecoatm.com/find-a-location
- Once you locate the machine, take your electronic item and insert it into the designated slot.
- The machine will then recognize and inspect the device.
- It then gives you an offer (the highest available offer by searching through its network of buyers.)
- If you agree and accept the offer, it will give you your cash instantly.
Now, the really interesting thing is that the company is able to find a second life for 75% of the devices collected through an EcoATM. For the other 25%, the company has partnered with certified eWaste reclamation facilities to ensure those materials are responsibly reused and recycled.
What Devices Does EcoATM Accept?
At the moment, these machines only have the capacity and capability to accept the following items:
- MP3 Players
But the company says they are going to expand this list in the near future to include bigger gadgets as well.
Who knows, maybe one day you could get cash for your old fridge via an ATM!
How Much Money Can You Expect?
Obviously, this depends on your gadget and its condition.
However, the numbers I have seen and heard are anywhere between $1 to $250 per device.
The plus side is that during the transaction, the machine will give you the option to donate your money to a charity.
How Do I Find Eco ATM Locations Near Me?
These types of ATM’s are only available in a few states right now, and there may be stipulations in place for these ATMs.
For example, those who are in Washington have the stipulation that they have to be a Microsoft employee to use the ATM.
This is one of the biggest disadvantages of these ATM’s, as they are not in a location that can service everyone.
The good news is that the company has said that they will be expanding and will continue to do so year after year, thus you may find an ATM close to you in a short period of time.
You can look at EcoATM’s Find a Location page to find the nearest kiosk to you.
You can even find some of their kiosks in your local Walmart or Kroger stores.
This is just amazing. Who would have thought that you could take your old and unused electronics to an ATM and trade it for cash!
I think this is a great way to get some cash for your old electronics instantly without having to ship them off to some site you found on the internet.