Abstract: In apparatus for dispensing documents of value for example banknotes, a cassette (10) preloaded with a stack of banknotes is movable along a predetermined path into the dispenser housing up to a feed position; the cassette includes a shutter (18) for closing a feed aperture (22) through which banknotes can be extracted for dispensing. The dispenser housing has a stop member (40) movable by a cam (30) on the cassette to cause a shutter-actuating member (42), coupled to the stop member, to enter a recess (26) in the shutter (18) whereby during further movement of the cassette up to the document feed position the shutter is moved from its closed position to its open position. The relative position of the cam on the cassette and the stop member is such that if because the shutter is already open the shutter-actuating member (42) is prevented from entering the recess, further movement of the cassette into the housing is blocked by the continued engagement of the stop member (40) and the cam (30).