THE MONEY MAKER
By Tanya Powley
Thursday, October 1, 2009.
There are an estimated 90 million old mobile phone handsets in the UK that could be making their owners some extra money in the current tough economic environment.
Recycling mobile phones for cash has become a growing phenomenon, with the establishment of a large number of online mobile phone recycling companies.
An old handset in good condition could get you as much as £150 if it is a desirable model.
Selling your old handset won't just give you some extra money in your pocket - you will also be playing your part in helping the environment.
Handsets contain a number of hazardous components such as cadmium, lead and mercury in the batteries which are potential environmental threats if they are just thrown away rather than recycled.
The money you get will depend on your phone's condition but it is worth shopping around the different online recycling companies as the amounts they offer may vary.
Websites such as Omio.com, mobilephonerecycling.co.uk and comparemymobile.com have links to the main recyclers. Alternatively, you can go direct to websites such as envirofone.com, mazumamobile.com, moPay.co.uk, mobilephoneexchange.co.uk, love2recycle.com and fonebank.com.
Recycling your mobile phone handset through an online website is very easy. All you have to do is go on one of the websites and state what model your mobile is. The website will let you know the price it will pay you.
Most will send you a jiffy bag for you to post your handset off to it. However, most websites won't provide insurance so it's worth paying for special/recorded delivery.
Before you pop the package in the post, make sure you remove your old SIM or memory cards, as well as any existing data stored on the handset.
There are also some extra steps you can take to maximise the amount of money you get when you sell your old handset.
As well as shopping around on a mobile phone recycling comparison website, you can fix any defects your mobile phone has in order to increase its value. This could involve putting a new battery in, for example.
Some websites also offer deals such as offering higher rates for the handsets if you opt to take a retailer's vouchers instead of cash.
Most of the recycling websites will still look at damaged phones, but you should expect only a low sum of cash. If the firm cannot offer you any cash for the phone, it will at least recycle it on your behalf.
With thanks to Interactive Investors.