Three armed men robbed security guards of "bags of cash" within 30 seconds yesterday in Hamilton.
Police were called to Northgate ANZ bank at 12.45 pm.
An onlooker told Stuff the men used shotguns to threaten security staff as they were transferring money from an armoured transport van to the bank.
"The robbers were right in his face with a shotgun, grabbed the money bags, ran into the car park and got away in a car."
Within 30 seconds, the men "stole a quantity of cash" but police would not comment on the exact amount.