A company out of California has a solution for those with old and outdated electronics, an ATM that actually offers users money for recycling old gadgets.

The company is called Eco ATM, and the machine works like a regular teller machine except instead of inserting a debit card, users insert old phones, Mp3 players, or other electronic devices.

The machine scans the device, estimates its value, then offers at least a dollar or more in return.

"I've been looking to get the new iPhone, so I am going to see how much it is worth and maybe cash in," Jonathan Domick, a Eco ATM user, said.

Up to 75,000 tons of used phones are thrown into landfills each year. But surrendered devices from the Eco ATM are melted down or recycled.