an apparatus for transferring paper sheets includes a supply device which supplies sheets , a supply unit which is provided as part of the supply device and forms a supply outlet through which the sheets are ejected , a receiving device which is connected to the supply device in such a manner as to be vertically movable relative to the supply device , and a receiving unit which is provided as part of the receiving device and forms a receiving inlet by which the sheets are received , wherein one of the supply unit and the receiving unit is configured to be vertically movable , and changes a vertical position thereof in response to relative positional relationship between the supply device and the receiving device .