Make a deposit with distress around the end of January (3,2)

I believe the answer is:

pay in

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'make a deposit with' is the definition.
I can't judge whether this defines the answer.

'distress around the end of january' is the wordplay.
'distress' becomes 'pain' (I've seen this before).
'around' means one lot of letters goes inside another.
'the end of' says to take the final letters.
The final letter of 'january' is 'y'.
'pain' enclosing 'y' is 'PAY IN'.

Can you help me to learn more?

(Other definitions for pay in that I've seen before include "Lodge" , "deposit" .)

I've seen this clue in the Evening Standard.

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