Rhinestones ripped from Sydney GAYTMs

Vandals have trashed two Sydney ATMs that were glitzed up for Mardi Gras in what police fear may have been a swipe at the city's gay community.

The two ATMs were among a handful of ANZ cash terminals that were decorated with bright rhinestones and rainbows and rebadged GAYTMs ahead of the annual pride parade on March 1.

Police have been told two men were seen vandalising the ATMs on Oxford Street with a metal bar about 8pm (AEDT) on Sunday.

The machines themselves were undamaged, but the decorative signage was forcibly removed.

Surry Hills commander and NSW Police spokesman for sexuality and gender diversity, Superintendent Tony Crandell, said police were investigating whether the attack may be "bias-related".

"The investigation remains in its early stages, with detectives now reviewing CCTV footage," Supt Crandell said.

"If this damage was designed to somehow hurt the spirit of Sydney's LGBTIQ community, those responsible have simply underestimated the degree of community pride and resilience recently celebrated at the 2014 Gay and Lesbian Mardi Gras."