Thieves used a horsebox to drive away with ATM machines ripped from the walls of a bank in the early hours of the morning.
They used a telehandler to ram the building in the Eastgate area of Peebles early on Tuesday.
The ATM machines were then loaded onto the horsebox, which was being towed by a grey Isuzu D-Max pick-up, before leaving the scene.
The vehicles, along with a grey Audi saloon car, entered the Eastgate area at around 3am.
This was clearly a planned series of crimes, involving stolen vehicles, to target the cash machines
Police said three male suspects, all wearing dark clothing, were seen leaving the area in the Audi and pick-up heading in the direction of Northgate following the incident.
The horsebox and pick-up had been reported stolen while the telehandler, which is also believed to have been stolen, was left at the scene.
DI Keith Sinclair, of Dalkeith CID, said: “This was clearly a planned series of crimes, involving stolen vehicles, to target the cash machines.
“Extensive inquiries are ongoing to trace the suspects and officers are working through CCTV from the area and speaking to witnesses.
“I’d like to thank everyone who has come forward with information already and ask anyone else who can help to contact police.
“If you saw what happened, saw the vehicles before or after the theft or have any information on where the Audi, Isuzu pick-up or horsebox may be now, please let us know.
“I’d also ask anyone with private CCTV, doorbell or dashcam equipment to review their footage and bring anything of significance to our attention.”
Pictures posted on social media showed a gaping hole in the side of the Royal Bank of Scotland in Peebles.
Anyone with information about the incident is asked to contact Police Scotland on 101 quoting reference 0303 of September 29 or Crimestoppers on 0800 555 111 where anonymity can be maintained.
A Royal Bank of Scotland spokesperson said: “We are aware of the incident that occurred at our Peebles branch in the early hours of Tuesday morning and are supporting Police Scotland with their investigation.
“The Peebles branch is currently closed. Our customers can access our services at the Galashiels branch.”