Abstract: The device separates and stacks banknotes, that are provided with a distinguishing mark and forming part of a sequence of banknotes transported continuously in succession along a first conveyor track, and comprises a detector which reacts to the distinguishing marks and controls a deflector diverting the marked banknotes to a second conveyor track. This second track extends tangentially to the deflector in its operative condition and consists of a pair of driven endless belts contacting each other along a portion of their length. The banknotes diverted by the deflector and pinched by the nip formed between the belts in mutual contact, are transported to a stacking wheel consisting of a plurality of axially spaced disks provided with spiral-shaped slots, which receive the banknotes one after another. By means of inclined deflectors intersecting the slots the banknotes are extracted from the slots and guided into a horizontal stacking magazine where they are disposed on edge.