Sensation has place in band (6)
I believe the answer is:
splash
'sensation' is the definition.
(I've seen this in another clue)
'place in band' is the wordplay.
'place' becomes 'pl' (abbreviation used in postal addresses).
'in' is an insertion indicator.
'band' becomes 'sash' (a band of material).
'pl' inserted inside 'sash' is 'SPLASH'.
'has' is the link.
(Other definitions for splash that I've seen before include "Extravagant display" , "Effect of body hitting water" , "sensational story" , "major news item" , "Bright patch of colour; fall in drops" .)