No arrests have been made.
The robbers gained access to the machine at Nyanga Junction in Manenberg at the start of the weekend.
“The incident was discovered on Saturday morning,” police spokesperson Colonel Andrè Traut said.
“Some of the cash that was removed from the safe was recovered on the roof of the building.”
According to police sources, the heist is believed to have taken place between 13:30 on Friday when the ATM was filled up, and 06:00 on Saturday when it was found to have been looted.
“They came through the roof and took an undisclosed amount of cash. It would most probably be hundreds of thousands if it was stocked up for those who got paid on the 15th,” one source said.
The robbers used tools, such as grinders, to break their way into the safe and left their implements behind.
“These guys knew what they were doing. It’s the first time I hear of robbers stealing from the back of an ATM.”
Police are investigating.