No.  While the first payment on the recurring gift may be processed by NetCommunity, processing of all future transactions must be processed from The Raiser's Edge using the EFT optional module. Refer to How to process credit cards and direct debits in The Raiser's Edge for details.

It is possible to manage Recurring Gifts without the EFT Module, but the process is manual.  You must track when transactions are due and manually keep them in a recurring gift batch.  In general it is best to plan to process Recurring Gift transactions on just a few days a month to prevent missing some transactions.  You can set up your Recurring Gifts to only allow specific dates for future transactions to be processed.  If you set up Recurring Gifts for transactions to occur on two days each month, 5th and the 25th, add donors to the correct Recurring Gift Batch and the gifts come in.  Process them on those specific dates.