Abstract: A tray acceptor apparatus contains a housing with a tray mounted on the housing. A top plate is mounted on the housing parallel to the tray and a bottom plate is also mounted in the housing parallel to the tray with the alignment of the top and bottom plates being very accurate. Additionally, a unique way or ball bearing tray guide is utilized so that the tray slides accurately with very little if any free play such as skew or pitch. The tray acceptor apparatus very readily accomodates magnetic sensing mechanisms due to the accurate alignment of the tray and the accomanying plates. The apparatus also includes a mechanical engagement of the tray to a timing shaft with either the tray or shaft having trip switches or the like so that a precise sequence of operation is obtained with every insertion of the tray into the housing. Moreover, a locking mechanism is employed during the valdiation of currency or checks and a pair of acceptance pressure rollers provides a secure frictional grip on the currency or check.