One of the men was arrested in central Borlänge, while the other was located in the Rommehed district. Both men were local and have a history of violent crime and narcotics offences.
In the town of Borlänge, all banks as well as offices of the Swedish Cashier Service were advised to close on Monday after police received information about the alleged robbery plans.
“One further person has also been taken in for questioning,” said police spokesman Sven-Åke Petters.
Police said that a special unit had been out together to deal exclusively with the planned robbery. There was also an increased police presence on the streets of Borlänge, said Sven-Åke Petters.
Many of the banks in the town reopened on Monday after the arrests.