Fast advances in the wireless technology and the intensive penetration of cell phones have motivated banks to spend large budget on building Mobile Banking Applications (MBA), but the adoption rate of MBA is still underused than expected. Therefore, research to enrich current knowledge about what affects individuals to use MBA is required. Consequently, this study employs an extension of Technology Acceptance Model (TAM) to investigate what impacts individuals to adopt MBA. To extend TAM, nine factors were identified and grouped into two groups namely perceived benefits and perceived sacrifices. On one hand, five factors were identified as perceived benefits factors for the adaption of MBA including perceived usefulness, perceived ease of use, perceived value added services, perceived self-efficacy, and social influence. On the other hand, four factors were identified as perceived sacrifices factors for the adaption of MBA including perceived financial cost, system non-availability risk, privacy risk, and security risk. Through correlation analysis of 300 respondents, this research has empirically concluded that individual behavior intention to adopt MBA was significantly influenced by social influence, perceived self-efficacy, and perceive value added services, in their order of influencing strength. This research suggested that individuals do indeed consider adopting MBA. The behavior intention of individuals toward MBA is positive which motivates them to adopt MBA in a near future.