Yes, a geofence can have more than 1 type, for instance a geofence can be both a Customer Site and a Virtual Speed Camera.

The notifications that you set up will go to all recipients selected for the geofence. If you want to customise notification recipients for each type of geofence e.g. Virtual Speed Camera notifications are sent to the Fleet Manager, and MyEROAD entry notifications are sent to the Dispatcher, you can do this by setting up two separate geofences with different recipients.