ecoATM kiosks give cash for your old electronics, cellphones

Also gives option to donate to charity

(CNN) - Trading in your old cell phone for the latest technology can be expensive. But there's a way to get cash for that old phone, and help the environment at the same time.

It's called ecoATM and it gives you cash for your old cellphone or other electronic gadgets.

The company behind it said the goal is to alter the current wasteful lifecycle of consumer electronics. So it means instant cash in your pocket, if that's what you choose.

How does it work?

You walk up to the ecoATM kiosk and put your phone in the machine, which will identify the phone model and give you an initial price. If you like the ballpark offer, plug your phone in so the machine can run some diagnostics and give you a final offer. A quick scan of your driver's license and you're almost done.

The machine will give you cash or an in-store credit, depending on the kiosk. You could also choose to donate the funds to charity.

Phones gathered by the kiosk are either refurbished and then resold, or they're recycled in a responsible manner.

The bulk of the ecoATM machines are rapidly expanding, though most of the kiosks are in California. They're backed by the same company that operates Coinstar and Redbox kiosks.

Can't wait for a kiosk to pop up?

Some of the most popular include, and Whichever one you pick will send you a pre-paid box to ship your electronic device to and then send you a check.