The heist happened just before 10:00 a.m. on Thursday, October 31st, in front of the Wells Fargo bank on the 8100 block of Frankford Avenue.
"The timing of such, the armored car arriving at a certain time, would just indicate that it was preplanned and well planned," FBI Special Agent-In-Charge Edward J. Hanko said.
Police say the suspects, wearing business suits and Scream movie Halloween masks and armed with TEC-9 semi-automatic weapons, converged on the Garda truck.
"One masked subject ordered the guard to the ground while pointing a gun at him and the other subject went for the money," Hanko said.
They got away with more than $300,000 and fled in a green minivan.
The driver was not injured.
A salon employee from across the street, Marnan Harner, ran to the aid of the armored car driver.
"I just ran over to make sure the guy was okay," Harner said. "He said 'I'm fine, this has happened before.'"
Police later found that minivan abandoned few blocks away in the 3400 block of Arthur. Some of the cash had been left behind.
Anyone with information is urged to contact Philadelphia Police at 215-686-TIPS (8477), text a tip to PPD TIP (773847) or through PhillyPolice.com.