The men -- identified as Aram Dzhanszyan, 31, and Ter Mkrtchyan, 37 -- were arrested near the bank in the 1600 block of North Moorpark Road.
According to De Wanes, the two men worked out an elaborate operation.
Police say the pair installed the device on the exterior door of the ATM vestibule. The device captures customer account information embedded on the ATM card's magnetic stripe.
The men also attached video recording equipment to the ATM that was trained on the PIN entry keypad, police said.
Chase security cameras captured footage of the two men setting up the equipment. Bank officials notified authorities after viewing the footage.
Dzhanszyan and Mkrtchyan were spotted hours later in the bank's parking lot, waiting for their opportunity to retrieve the stolen data from at least 90 accounts, according to police.
Police arrested the men but detectives do not think they were working alone.
"This is actually organized crime so there's usually crews that do this," De Wanes said. "This is big business."
Authorities say bank customers should use different cards with magnetic strips -- like a grocery store rewards card -- to open the exterior door at an ATM vestibule.
Customers should also use their hands to cover the keypad while entering their PIN numbers.