PURPOSE: To provide a temporary storage apparatus of bank notes which has few movable mechanical members, is small in dimensions in spite of a large storage capacity, does not damage the notes, is inexpensive and operates at a high speed.

CONSTITUTION: A temporary storage apparatus of bank notes has a transportation device 11, a temporary storage device 1 and a control device 26. The temporary storage device 1 comprises a drum 8 with an endless belt 9, a change-over device 10, a drive unit 24 and sensors 27 and 34 connected to the control device 26. The notes 2 stored in one bundle 12 are fixed to the drum 8 by the endless belt 9. The drum can be turned in one of the two rotational directions 13 and 14 by the drive unit 24. When the drum makes full one turn of 360°, the notes supplied by the transportation device are stored on the cylinder surface 16 of the temporary storage device in one bundle. If the drum is turned in the reverse direction, the bundle is discharged onto the transportation device through a linking passage 23 of the temporary storage device.