One goes to the bank for it (5)
I believe the answer is:
ferry
'it' is the definition.
The definition suggests a singular noun which matches the answer.
I can't explain the rest of the clue.
Can you help me to learn more?
(Other definitions for ferry that I've seen before include "Ship for crossings" , "Boat for transferring people across short stretches of water" , "Regular passenger boat" , "Boat that plies from shore to shore" , "Passenger ship travelling regularly over a short distance" .)