An automatic money handling device for receiving bills and coins and for dispensing bills and coins as change. The device has a storage reel, first and second bill belts extending from a first and supply reels around a first and second entrance rollers at an opening to the housing then to the storage reel. The two belts converge at the entrance rollers and then extend in superposed relation from the entrance rollers to the supply reel. Reversible drives can cause the belts to travel toward and away from the opening for receiving, dispensing and storing bills. A first sensor outside the opening senses the presence of a bill and can control the operation of the drive motors. A second sensor inside the housing adjacent the entrance rollers senses if and when the bill has been drawn far enough into the webs and halts operation of the forward drive, thus positioning a tendered bill at a viewing station for inspection. The second sensor is an optical sensor for causing any bill not having a predetermined opacity to be rejected. A time delay is provided for halting forward drive of the belts if a bill tendered does not reach the second sensor within the preset time period.