Put clock back for transfer (5)

I believe the answer is:

remit

I'm a little stuck... Click here to teach me more about this clue!

'for transfer' is the definition.
(I've seen this before)

I can't explain the rest of the clue.

(Other definitions for remit that I've seen before include "Relax; send (payment)" , "Pay; mail" , "Scope of reference" , "Area(s) of responsibility or to be dealt with" , "Send (money) in payment; pardon" .)

I've seen this clue in The Times.

Want a hint initially instead of a full solution? Install my app