Of late, bank the money in it (8)
I believe the answer is:
recently
'of late' is the definition.
('recently' can be a synonym of 'of late')
'bank the money in it' is the wordplay.
'bank' becomes 'rely' (I've seen this before).
'the money' becomes 'cent' (I've seen this before).
'in it' indicates putting letters inside.
'rely' going around 'cent' is 'RECENTLY'.
(Other definitions for recently that I've seen before include "Of late" , "Adverb meaning not long ago" , "Lately" , "Not so long since" , "In the near past" .)