However at the same time i want to go through this legally starting an exchange is not as simple as it looks
One big problem is issuing that card. For that you have to pass quite a lot of legal filters and also Visa/MasterCard requirements.
If you don't do that, somebody will have to pay fees to transfer the money to customer's bank account and you will become similar to the existing exchanges. I
already withdraw from Bitstamp to card.
Then you said you will have lower fees. Lower than what kind of exchanges, all or only all the OTC ones? Hmm.. You have to sell somewhere and you have to sell at the moment the customer wants that money, not at a later point Bitcoin may rise (or not!).
This means you must have Bitcoin at the exchange ready to sell and probably sell at the price people sell Bitcoin, so already at a lower price than preev shows (of course, much better price than Wirex shows, that's for sure).
However, careful with what you claim / advertise
since false advertising may mean lawsuit, which you don't need.
Then you need hardware and support people that has to be paid. I didn't mention the fees to withdraw from exchanges (even if you can bulk those, you still have some transfer costs in both directions).
Imho you should really add everything up and make sure you can do this. I'd love to see competition rising, just don't go head first.