A new mobile phone recycling scheme has launched in New Zealand that will give you money for your old mobile phone.

All you have to do is remove the old SIM or memory cards and erase any existing data stored on the phone before sending it in. Phones beyond repair will be used for spare parts. The recycled phones will be on-sold to emerging and developing nations including India, Russia, South America and China.

“There are around 1.8 million unused mobile phones gathering dust in cupboards and drawers within New Zealand alone,” said Director, John Wilson. “Kiwis will be able to help stop inappropriate and dangerous waste ending up in landfills and provide developing countries with affordable access to mobile phones, and at the same time make cash.”

The value of your handset will be given based on the information you enter into the website such as serial number and model. “Prices start from $1 for old phones and go up to $512 and payment will be made within five working days,” says the company.

The Money4Mobiles website offers a step-by-step guide to recycling your old mobile for cash.