A recurring batch is recommended when the same group of constituents make donations at regular intervals; for example, when employees participate in payroll deduction. Instead of re-entering similar gifts each time for the same constituents, create a recurring batch which can be committed multiple times instead.

RE:EFT (Electronic Funds Transfer) is a general banking system by which transactions, such as deposits, are made electronically from a donor's bank account or credit card to your bank account. As the name implies, this process takes place electronically requiring little or no physical paperwork; all or most paperwork and bookkeeping is done on-line. If your organization has the EFT (Electronic Funds Transfer) module, after a pledge or recurring gift is marked as an EFT record, individual transactions can be generated automatically via new batches and those gifts can then be committed to the database.

Also refer to:
How to configure Electronic Funds Transfer for The Raiser’s Edge 7
EFT User Guide