Apple has announced an in-store trade program whereby you can get money for your old iPhone when buying a new one.

Starting today, Apple will allow customers to bring their iPhones into any United States Apple retail store and pay you for your device based on the model, condition, and storage size. You can receive up to $280 for your phone.

How it works: When you bring your phone into the store, Apple will give you a price and offer you a gift card which must be immediately used on a new iPhone with a contract before you leave the store.

Their “reuse and recycle” program comes in light of many similar services popping up in recent years to buy back old iPhones when customers wish to upgrade to new ones. The companies, like Gazelle, would then wipe your phone’s data and resell the phone for a higher price for parts or in foreign markets where the “old” iPhones are popular. The advantage of these companies compared to Apple’s is that you will get cash you can use anywhere, whereas Apple requires you to buy a new phone right away.

The trade-in program comes on the heels of the rumored iPhone 5S announcement arriving on September 10. The phone reportedly boasts a thumbprint scanner on the home button to unlock the phone as well as speed improvements.

On the same day Apple is expected to unveil when the next iteration of their mobile operating system, iOS 7, will be released. Developers have had the software in their hands for several months, and the beta period is reportedly winding down to a close.

Apple’s trade-in program will make it tempting for those with older iPhone models to upgrade to the new devices with ease.