It is believed thieves robbed an ATM in Naas, Kildare by digging a 15 metre tunnel to access the cashpoint from underneath.
The incident happened at the Maxol service station at Sallins Road, on Monday or Tuesday.
It’s reported that a tunnel measuring three metres deep and 12 metres wide was constructed between the nearby Grand Canal and the service station building.
A number of gardaí, including members of the Garda Water Unit, were in the area today.
It’s understood that the incident only came to light when contractors working on behalf of Ulster Bank arrived earlier this week to remove the ATM - as part of the company's withdrawal from the Irish market.
"A 15-metre tunnel dug up underneath the ATM, into the ATM," says Councillor Bill Clear, speaking to KFM.
"The ATM wasn't taken, but whatever was in it was taken. It was an Ulster Bank machine that was due to be removed when Ulster Bank was leaving Ireland.
"When they went in to take out the machine, and put in a new one from another bank - they noticed the tunnel.
"It's like something you'd see out of Ocean's Eleven."
The amount of money stolen has not yet been reported.