Thieves used an excavator to rip an ATM machine from the wall of a convenience shop in Kirton in Lindsey, North Lincolnshire.
Police say they received a call at 2am on December 9 from a person reporting that the machine was being used to attack the cash machine at the One Stop Shop on High Street.
Four men were said to have been involved and the ATM was taken away in the back of a van.
Officers attended the scene and enquiries are now ongoing. Witnesses have been spoken to and CCTV is being reviewed.
The incident is one of a string of similar ATM thefts using heavy duty machinery in the county this year.
Detective Sergeant John Cram said: “In light of this incident, I would encourage businesses with ATMs outside their premises to take steps to ensure they have good security measures in place.
“CCTV is a good deterrent, or, if thieves commit offences in spite of the CCTV, good quality cameras which are in good order really help us in our investigations.
“I’d also encourage staff and the wider public to be vigilant and take note of anyone acting suspiciously, particularly vehicles that might be loitering or people taking particular interest in an ATM.
“Finally, I’d appeal to owners of heavy duty machinery to ensure it is properly secured. This is the type of equipment that thieves targeting ATMs use and in many cases they will steal it from local building yards or farms.
“By reducing the availability of this sort of machinery you can help to reduce the risk of further ATM thefts.”
Anyone with information is asked to call 101 referring to incident 20 of December 9 or Crimestoppers on 0800 555 111.