Police said the pair approached the woman as she withdrew money from a cash machine in King Street, Knutsford, on Thursday evening.
It is believed the couple told her that the cash machine was broken before extracting her card.
While she was distracted, one of the offenders stole the money.
"They confused her to such a degree that she is not quite sure what happened," said a police spokesman.
This week, a spokesman for Barclay's said similar thefts had happened at a number of their branches.
"There is nothing we can do about it because it is deception of the customer," he said.
The thieves struck after the bank closed on Thursday.
The man was in his late 20s with dark, greasy hair and his left arm was in a splint.
His woman accomplice was a similar age with strands of hair dyed red.
On Monday, police urged customers to remain calm if they were approached at cash machines.
"Extract your card, exit your account and don't let anybody push any buttons on the terminal," she said.
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