The call came in around 9:20 a.m. for a report of a robbery at the TD Bank at 10th and Chestnut.
Officers were told that two women robbed the bank with a demand note and fled on foot.
Police caught up to the pair in the unit block of South 11th Street about 15 minutes after the robbery.
The bank told police the women took "bait money," but it is not yet known if that played a role in their quick arrest.
The names of the women arrested have not been released.
No injuries have been reported.