Two men accused of bank fraud will be released on $10,000 bail today.

Vladimir Vasilev, 31, and Nikola Aleksandrov, 40, are scheduled to be released from custody after they provided the police with passcodes to their phones over the weekend.

The pair were granted bail on July 26 by senior magistrate Juan Wolffe on the condition that they help police get access to their phones.

Magistrates’ Court heard that their devices could hold information related to the alleged offences.

Mr Vasilev and Mr Aleksandrov, from Bulgaria, appeared in Magistrates’ Court on July 18 and were charged with conspiring to steal money from unknown persons between an unknown date and July 15.

Both defendants pleaded not guilty to the charges.

Mr Vasilev pleaded not guilty to having a machine designed to make false credit cards for the purpose of stealing money.

Mr Aleksandrov denied having plastic cards with magnetic strips for the purpose of creating false credit cards.

The offences were alleged to have happened on July 15 in St George’s. The pair were remanded in custody and reappeared in court on July 22, when they made applications for bail.

The pair were also ordered to wear electronic tags, report to Hamilton Police Station three times a week and observe a 7am to 6pm curfew.

They were also ordered to stay away from any ports of exit or entry, to stay away from any water vessel, including ferries, stay only at their accommodation in Paget and surrender their passports.

The two will be fitted with tagging devices today.

Mr Wolffe adjourned the case until August 26.

• It is The Royal Gazette’s policy not to allow comments on stories regarding court cases. As we are legally liable for any libellous or defamatory comments made on our website, this move is for our protection as well as that of our readers.