Crossword Genius

Pickpocket paid back missing note (3)

Ross

I believe the answer is:

dip

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'pickpocket' is the definition.
(synonyms)

'paid back missing note' is the wordplay.
'back' indicates one should take the final letters.
'missing note' becomes 'ip' (I can't justify this - if you can you should give a lot more credence to this answer).
The last letter of 'paid' is 'd'.
'd'+'ip'='DIP'

Can you help me to learn more?

(Other definitions for dip that I've seen before include "Pickpocket" , "An informal swim or a downward slope" , "Lower into liquid" , "Dunk" , "Sink; immerse" .)

I've seen this clue in The Times.
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