A METHOD OF RECEIVING AND PAYING OUT BILLS

A method of receiving and paying out bills including the steps of providing a bill passage in about the central portion of an elongate casing that extends along one side of a bill receiving chamber having a bill payback: outlet; providing a bill conveying apparatus for conveying a bill delivered to said bill passage to a predetermined position for receiving it; utilizing a bill pushing member being capable of moving in a reciprocating motion across said passage to bill receiving chamber when the bill located at said predetermined position in said passage to be received, effects receiving of the bill by pushing it with a surface of said bill pushing member across from said passage; disengaging the rearmost bill from said bill receiving chamber by operating bill extracting apparatus in the reverse direction by a predetermined amount while said bill pushing member is activated causing it to extract away and pull out from a rearmost bill leading edge retainer which holds the remaining bills in position; and, operating the extracting apparatus in the forward direction to transport said extracted rearmost bill through said bill payback outlet to said bill conveying apparatus which is operated in reverse to direct it to the customer.