The brothers, aged 27 and 31, were arrested on suspicion of robbing around 20 cash machines near the northern Italian city of Turin, The Local reported.
They managed to raid the machines of 100,000 euros during the heists, it said.
In CCTV footage of the robberies, one of the brothers can be seen covering the CCTV camera in a bank lobby and planting an explosive in the cash dispenser.
He then ducks out of the way after lighting the fuse, causing a blast, according to Italian daily La Stampa.
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However, Italian police said the brothers were instead inspired by the 1997 film 'The Jackal', whose protagonist, played by Bruce Willis, changes the colour of his car while police are in hot pursuit.
"The two brothers painted their white Mercedes black," the police said in a statement.
The brothers are the sons of a man serving a life sentence for the murder of a businessman during a robbery at his home in 2001, the Italian daily said.
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