An apparatus for diverting sheet material, in particular bank notes (BN), includes a diverting plate (4) with a first diverting edge (7) disposed on a slant and preferably a second diverting edge (8) disposed on a slant. The sheet material is guided and transported from the rear side (6) of the diverting plate (4) around the first diverting edge (7) to the front side (5) and further around the second diverting edge (8) back to the rear side (6). If the diverting edges (7, 8) are aligned relative to the transport direction (1, 2, 3) of the sheet material e.g. in each case at a slant angle of 45°, this apparatus permits the sheet-material transport direction to be diverted by 180°, whereby the transport path is shifted parallel. Thus, a continuous bank-note stream can be diverted uninterruptedly while retaining the sheet-material orientation relative to the transport direction. By means of a gate (12) the sheet material can be guided to a downstream diverting edge (13) instead of to the second diverting edge (8).