It's simple.
BANKS are exactly what you imagine they are. Exactly like a bank of patches in a synth. You upload and download them as such.
BUNDLES are well, bundles of BANKS you gather together for organizing. They may be all from one synth and maybe organized into types like Piano, Horns, Strings etc. BUT they can also be multiple BANKS for different / multiple synths too. Galaxy can load/reload ALL of your synths simultaneously from a BUNDLE of patches of their corresponding BANKS. You can imagine say, a "smooth jazz" BUNDLE where all your synths get loaded with soft keys, Rhodes-type stuff etc; maybe an EDM BUNDLE with lots of perc and bass stuff. Got a couple of devices you gig with? You can make a "Gig" BUNDLE to easily load those and then go back to whatever you were working with afterwards.
You can make song BUNDLES where all of the patches used on a recording can be recalled for a remix or such. Lots and lots of possibilities.
LIBRARIES are the final way to sort out and file patches. They hold unlimited numbers of patches and are intended for sorting types: A library of Pianos of all types, of orchestral sounds of whatever. Say, you're looking for just the right patch for something; you step through ALL of the patches of a type one-at-a-time till you find it. Every time you select one, Galaxy will load it into the synth in a blink.
Once you get stuff organized into BANKS, SVP will "subscribe" to whichever one you use on a project. The patch names will be stored with and appear in the song file. SVP will prompt you to load the necessary banks when you load the songfile.
Yes, it's like Logic and Soundiver, but Opcode was first.
The main "tip & trick" you need is patience. The initial sorting and organizing is critical. If you have lots of patches and/or lots of devices, it's a BIG task.
Just naming / renaming patches, weeding out duplicates, testing them etc. is a LOT of work. BUT at least you only have to do it once.
If you put in the time and effort to sort it all out though, that time will pay dividends forever as long as you use the software.