Improved stacker apparatus

An improved banknote stacker is described which provides a high level of flexibility and a high degree of stacking efficiency with a reduced level of jams and crumpled banknotes. In one embodiment the improved banknote stacker includes upper and lower housings having molded fingers and slots for interconnection with a banknote validator, banknote transport apparatus including a self adjusting belt-pulley arrangement, a prestorage compartment, a banknote pusher having a home sensing arrangement which allows it to be controlled using a simple open-loop control, and a banknote magazine for storing stacked banknotes and providing ready access to the stacked banknotes.