Frequently Asked Questions about ecoATM
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How does ecoATM determine pricing?
ecoATM prices each phone model individually based on its value in the worldwide secondary markets. These prices can be as high as $300 for some newer model phones and as low as $2 for older model phones. The specific condition of each individual phone is also evaluated and considered into the pricing of the phone. For instance, a phone with water damage or a broken LCD will be worth less than a fully functional phone.
How does ecoATM pricing compare with selling my phone online?
ecoATM shops worldwide channels for the best prices we can find for each individual phone model. Because we deal with dozens of buyers all over the world, we generally find better pricing than individual consumers can find on their own. In a sense, an ecoATM acts as an “eBay-in-a-box” without the added hassle to the consumer of listing, packaging, shipping cost, potential return, etc, of eBay or other online methods.
ecoATM also provides immediate evaluation and payment unlike online methods that can take as long as 45 days to pay. Additionally, in online selling, consumers “grade” the condition of their own phone and it is often the case that once the buyers disagree with that condition “grading” and in turn offer substantially less than was originally quoted and expected. This never happens with the ecoATM.
Where do the recycled phones go?
ecoATM is able to find secondary markets for about half of the phones we collect. The other half are sent to materials reclamation through the most environmentally responsible channel available.
ecoATM has relationships with more than 50 companies that refurbish and resell the phones into secondary markets. These companies serve a broad variety of secondary market customers including US markets and offshore markets. US markets include insurance and warranty replacements, mobile virtual network operators, and some are refurbished and sold on eBay and other online markets. Offshore markets include emerging markets in Brazil, Russia, India, China, Africa, Caribbean, and other geographies.
What happens to my old phone if it has no worth? How do I know you will responsibly recycle it? (I have seen reports of companies who say they responsibly recycle, but the products wind up in a landfill.)
ecoATM uses the best environmental practices and processes possible. We recycle those phones (and accessories) responsibly by tracking their serial numbers through a destruction/materials reclamation process. Basically, the phones are melted down for their metals, which are recovered and reused, could become jewelry, or new devices etc. The process protects the environment by reusing the metals so we don’t have to mine more – the impact is about three tons (6,545 pounds or so per phone) of mining waste mitigated. That’s a pile of dirt about the size of a car for a phone that fits in your pocket to put it in perspective. You can give the value of your phone to charity as well if you like, and we plant trees for the phones we buy and for those we just recycle.
ecoATM is:
- committed to supporting the highest environmental standards in the industry,
- actively involved in multiple standards and certifications bodies,
- committed to the R2 and related ISO processes, and
- supports the principles of the Basel Convention.
ecoATM's Environmental Policy is specifically designed to preclude issues such as dumping toxic materials into the developing world by establishing patented advance diagnostic systems, audits of downstream vendors and market coordination to minimize product speculation and to maximize product reuse.
What happens to the data on my phone?
All personal data from collected mobile phones are erased. Phones that are bound for secondary markets are erased as part of the refurbishment process. ecoATM only works with secondary market buyers who are bound by contract to erase all phones they process. Phones that are sent to materials reclamation are ground up into small chips and smelted at high temperature so any data is destroyed in the process.
Does the ecoATM system also accept any accessories such as chargers? What about batteries?
ecoATM accepts all chargers and other accessories whether working or not.
What happens if my phone is stolen and someone tries to cash it in?
ecoATM kiosks have a variety of features in place specifically to deter stolen phones from entering our system. These features include the ability to capture;
- Drivers License or Govt ID
- Credit card
- Digital signature
- Fingerprint
- Picture / Video of consumer via webcam
- Address & email
- Date & location of transaction
- Details of what was collected, including the serial number
ecoATM kiosks are also capable of refusing to transact any phones found in the databases that tract reported stolen phones.
When will you expand nationally?
Our plan is to implement a large rollout of production units in Q4 of this year. This will start a convenient footprint across the country. We will post a locator on our website.
When will you expand internationally?
Internationally, the interest for ecoATM kiosks is substantial, but such expansion is currently secondary as we ramp up and solidify our presence in the U.S. We ask that interested parties please wait until 4Q to contact us.
Can I buy an ecoATM kiosk?
Our current business model does not provide for the sale of ecoATM kiosks. We own, maintain and install them in high-traffic retail locations.
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