The first public hearings into banking in South Africa started in Pretoria on Wednesday.

The Banking Enquiry of the Competition Commission of SA will investigate aspects of competition in banking and the national payment system.

Enquiry manager Charles Frank said the commission received about 215 submissions from the general public.

The enquiry is a result of public concern about the high level of bank charges charged by banks.

The submissions were received from all the major banks and retail shops, including Pick n Pay and Shoprite Checkers. Eskom also handed in a submission.

Frank said most submissions were received on Tuesday because people had difficulty handing them in on time because of the taxi protests that took place on Friday. The initial due date was October 27.

The second public hearings will be held in March and April next year.

"At this stage it is anticipated that the final report of the enquiry will be handed over to the competition commissioner by July 31, 2007," Frank said.

Sapa

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