A banknote temporary storage device includes a pair of coiling tapes configured to clamp banknotes to be temporarily stored, a large coiling block configured to temporarily store the banknotes by accommodating the coiling tapes which clamp the banknotes to be temporarily stored, an upper coiling block component and a lower coiling block component configured to release or roll up the coiling tapes, and a banknotes inlet/outlet. Each of the coiling tapes has one end fixed onto the large coiling block, and another ends of the coiling tapes are respectively fixed onto the upper coiling block component and the lower coiling block component. The banknote temporary storage device is further provided with a coiling block guide plate and a pressing body, therefore the banknotes can be flattened when passing between the coiling block guide plate and the pressing body, thereby preventing the corners of the banknotes from being folded.