Three masked men attacked a bank customer in the centre of Bradford, beating him with a crowbar.
Officers were called to Barclays Bank at Market Street shortly after 12.15pm on Friday when callers reported an attack on the man as he headed towards the bank carrying a plastic bag containing a large amount of cash.
The raiders jumped out of a red Volvo 440 and began to hit the victim with the crowbar and demanded the cash.
Notes spilled out of the bag and fluttered across the street as the raiders desperately tried to snatch the money.
One eyewitness said it was believed to have been a wages snatch, with the victim pounced on as he approached the city centre branch from Cheapside and sprayed with a noxious substance.
Sadeya Afzal, a 20-year-old student, said: "My heart just stopped beating and I thought they would kill him the way they were laying into him with the crowbar."
Shazia Begum, 21, also a student, said: "I was just so shocked. I just wanted to get the men away from him. I walked towards him but then the car suddenly reversed back towards me."
Miss Begum said that two of the men were wearing Hallowe'en masks and one was reported as wearing a tartan scarf over his face.
The robbers are believed to have escaped with just a few bundles of cash.
The victim eventually managed to seek sanctuary in the bank where he was attended to by staff and police who shortly arrived at the scene.
A police spokesman said: "We have had a report of an assault involving three men wearing masks.
"They seem to have got out of a red Volvo car and attacked somebody just as he was coming into the bank.
"They then drove off towards Manningham. We have had no reports of guns being used but there may have been other weapons.
"It's not known yet if anything has been stolen."
Anyone with information about the robbery should contact 0800 555 111.
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