An automatic teller machine, comprising a banknote-in mechanism, a temporary storage mechanism, a banknote-out mechanism, an identification mechanism, a circulation box, a recycling box, abanknote conveyance channel, a banknote recycling channel, and a banknote circulation channel, wherein the banknote conveyance channel comprises an annular channel, a first branch channel, a second branch channel, a third branch channel, a fourth branch channel, and a fifth branch channel; the banknote-in mechanism is in communication with the annular channel through the first branch channel; the temporary storage mechanism is in communication with the annular channel through the second branch channel, and the temporary storage is configured to temporarily store the banknotes that are identified by the identification mechanism as qualified banknotes during a deposit operation; the banknote-out mechanism is in communication with the annular channel through the third branch channel; a first end of the identification mechanism is in communication with the annular channel through the fourth branch channel, and a second end of the identification mechanism is in communication with the annular channel through the fifth branch channel; the recycling box is in communication with the banknote conveyance channel through the banknote recycling channel; and the circulation box is in communication with the banknote conveyance channel through the banknote circulation channel; wherein the annular channel is configured to make a banknote to unidirectionally move in the annular channel along a preset direction when the banknote is in the annular channel; and the fifth branch channel, the fourth branch channel, the third branch channel, the second branch channel, and the first branch channel are in communication with the annular channel in sequence along the preset direction, the annular channel comprises a fourth path, a third path, a second path, and a first path which are connected end to end along the preset direction; the first branch channel and the first path intersect; the second branch channel, the first path, and the second path intersect; the third branch channel, the second path, and the third path intersect; the third path, the fourth path and the fourth branch channel intersect; the first path, the fourth path, and the fifth branch channel intersect. the banknote conveyance channel comprises an annular channel, a first branch channel, a second branch channel, a third branch channel, a fourth branch channel, and a fifth branch channel; the banknote-in mechanism is in communication with the annular channel through the first branch channel; the temporary storage mechanism is in communication with the annular channel through the second branch channel, and the temporary storage is configured to temporarily store the banknotes that are identified by the identification mechanism as qualified banknotes during a deposit operation; the banknote-out mechanism is in communication with the annular channel through the third branch channel; a first end of the identification mechanism is in communication with the annular channel through the fourth branch channel, and a second end of the identification mechanism is in communication with the annular channel through the fifth branch channel; the recycling box is in communication with the banknote conveyance channel through the banknote recycling channel; and the circulation box is in communication with the banknote conveyance channel through the banknote circulation channel; wherein the annular channel is configured to make a banknote to unidirectionally move in the annular channel along a preset direction when the banknote is in the annular channel; and the fifth branch channel, the fourth branch channel, the third branch channel, the second branch channel, and the first branch channel are in communication with the annular channel in sequence along the preset direction, the annular channel comprises a fourth path, a third path, a second path, and a first path which are connected end to end along the preset direction; the first branch channel and the first path intersect; the second branch channel, the first path, and the second path intersect; the third branch channel, the second path, and the third path intersect; the third path, the fourth path and the fourth branch channel intersect; the first path, the fourth path, and the fifth branch channel intersect.