Purpose—This study aims to develop an initial acceptance framework for digital-only banking models using the Extended Technology Acceptance Model (TAM) (Mitiku et al. 2024). It examines the factors influencing consumer adoption, awareness, and intention to use neo-banking services, along with its role in promoting financial inclusion (Al Khasawneh in Journal of Internet Commerce 14:341–362, 2015). Design/methodology/approach—A quantitative approach was employed to identify key determinants of digital-only banking model acceptance. A structured survey was conducted to collect empirical data, analyzed using correlation and regression techniques to validate the proposed framework. Findings—The study identifies trust, perceived usefulness, and awareness as the most significant catalysts of digital-only banking adoption. While ease of use has a moderate impact, security is not a primary determinant. Additionally, perceived usefulness strongly correlates with financial inclusion, and the customers demonstrate high willingness to recommend neo-banking services. Practical implications—The findings provide treasured insights for Fintech firms and policymakers to enhance user acceptance by improving trust, awareness, and perceived benefits, ultimately fostering financial inclusion. Originality/value—This research bridges the gap in understanding digital-only banking adoption, offering a comprehensive framework for its acceptance and growth.