To be perfectly honest, though, the 'standard' way of doing startups is a terrible idea when you're talking about people's savings.
Once we're a bank, customer funds up to £75k per account will be insured via FSCS.
In the meantime, the customer balances held on our prepaid debit card sit ringfenced in customer-specific accounts. If we went bankrupt, the funds can't be touched by our creditors and will simply be returned to the customers.
Edit: spelling