A paper money transmission and storage device with locking mechanism in financial equipment comprises a paper money transmission channel (1) and a cashbox set (2) for storing paper money, wherein the cashbox set (2) is mounted in a cashbox set bracket (21) which is a box of which one side is covered by the overturned paper money transmission channel(1).An end of the paper money transmission channel (1) is pivoted to a side wall (212) of the cashbox set bracket (21). A locking mechanism (3) arranged on an end of the paper money transmission channel (1) opposite to the pivoted end, comprises: a fixed bracket (31) which is fixed on the end of the paper money transmission channel (1) for mounting and supporting parts required for locking; a long-distance locking part which comprises a rotation shaft (32) across the two opposite end faces of the fixed bracket (31), and a locking hook (33) fixed to the two ends of the rotation shaft (32), wherein the locking hook (33) is connected with a locking pole (2121) arranged on the side wall (212) of the cashbox set bracket (21) in the opening and closing mode; and an unlocking handle (34) which is fixed on the rotation shaft (32), capable of driving the rotation shaft (32) to rotate freely so as to drive the locking hook (33) and the corresponding locking pole (2121) to achieve opening-closing operation.