The EcoATM is a new automated cell phone trade in station, similar to Redbox or Coinstar, that turns your old smartphone into cash.
The EcoATM machines are commonly found in malls along the East and West Coast, offering an instant trade in option for iPhones, iPods and other devices.
When it comes time to upgrade to a new smartphone, selling the old smartphone is a great way to cover the cost of a new phone.
We’ve covered how to sell the iPhone to pay for a new phone using the more traditional mail in options, and now there’s another way to trade in an old device.
The EcoATM scans the device users want to trade in to figure out the condition of the smartphone. The machine uses scanning capabilities and artificial intelligence to figure out the condition, and ultimately the price to pay for the used smartphone. The machine asks users to connect the phone to a cable to verify the smartphone works.
Users can choose to accept the trade-in value, or can cancel and take their phone back at any time during the process. The machine offers up to $300, which covers the price of some phones, but comes up short for recent models like the iPhone 4S in good condition. With EcoATM, users enjoy the benefit of instant cash. but it’s still a good idea to check trade in values at Gazelle, Nextworth and eBay Instant Sale.
The video below shows the EcoATM process in action.
The machine does collect personal information, such as a driver’s license to cut down on fraud, but the company claims this information is only shared with law enforcement in the event of a lost or stolen phone.
Users interested in trading in their old phone or MP3 player to EcoATM can find a location nearby using the EcoATM site.