A man wearing a striped T-shirt stole a bag of cash from a security guard making a delivery to a bank in Bury Park on Thursday.
Police are refusing to say how much money was stolen during the robbery, which happened at Barclays bank in Dunstable Road at about 1.15pm.
Staff from a security company were delivering a bag containing the cash when a man of Asian appearance wrestled it from them and ran out of the bank.
He is described as about 20, between 5ft 6ins tall and 5ft 10ins tall, of slim build and with short black hair.
The security staff went after him as he ran towards Bury Park Road, where he got into a blue VW Passat. The car was later found abandoned next to Gas Works Path in Crawley Road.
Det Con Zara Carr, in charge of the investigation, said: "We believe that the offender was in the bank for sometime prior to the robbery speaking to another Asian man. This person may not be involved in the robbery and we need to trace him as soon as possible."
Anyone who witnessed the robbery should contact Bedfordshire Police on 01582 394333 or Crimestoppers, anonymously, on 0800 555 111.
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