Question about US bank accounts/SSN post-renunciation

Hi folks, wondering if anyone well-versed in all the crazy banking legislation can help me out. I have about $5000 of student loans left to pay off, and I pay with a joint account (my mum is the other person on it) in the US. Once I renounce my citizenship and am therefore no longer a resident or a citizen, is it likely that this bank account will get cut off or anything? I'm not bothered about cutting my financial ties once the loan is paid off, but I want to renounce before that.
On a related note, a friend of mine who also wants to renounce was wondering about whether we still keep our social security numbers; she has a quite a lot more student loan debt than I do, and will be renouncing long before they're paid, but is worried that they'll cancel her SSN and bank account and make it impossible to pay off. Any thoughts?

There's nothing that says a non-US citizen can't have US bank account so I don't think there should be any issue with you giving up US citizenship and keeping the account. US banks will send statements to foreign addresses, however, they generally won't open an account if you don't have a US address.

If you renounce US citizenship I assume you keep your SSN and expatriation won't change your eligibility for SS or Medicare. Obviously you can only get medicare if you are a US resident and if you expatriate it would be tricky to become US resident again, but the SS will be ok as it can be paid to you wherever you live and only depends on your SS record.

most US banks will tell you that the patriot act prevents them from opening an account for someone with a foreign address. The only one I've talked to that will do so is USAA and you don't have to be military to join. However, we didn't discuss citizenship. See threads in other sections of this website for USAA. Maybe open an account before you renounce?

Perhaps I wasn't clear. This is an account I've had since 1999, and as my US-resident mother is also on the account, it has her US address on it. My question is whether I would get chucked off of it because of being neither citizen nor resident.

Perhaps I wasn't clear. This is an account I've had since 1999, and as my US-resident mother is also on the account, it has her US address on it. My question is whether I would get chucked off of it because of being neither citizen nor resident.

No.

If you renounce US citizenship I assume you keep your SSN and expatriation won't change your eligibility for SS or Medicare. Obviously you can only get medicare if you are a US resident and if you expatriate it would be tricky to become US resident again, but the SS will be ok as it can be paid to you wherever you live and only depends on your SS record.

You write "Obviously you can only get medicare if you are a US resident ..."  Is that correct?  I'm not sure.  While it is true that you cannot get reimbursed for medical services by Medicare while abroad, I think if someone lives abroad & is not a US resident, but they are Medicare Part A-qualified (maybe they pay their Part B too,) then they can get Medicare services when they are in the USA?

You write "Obviously you can only get medicare if you are a US resident ..."  Is that correct?  I'm not sure.  While it is true that you cannot get reimbursed for medical services by Medicare while abroad, I think if someone lives abroad & is not a US resident, but they are Medicare Part A-qualified (maybe they pay their Part B too,) then they can get Medicare services when they are in the USA?

Yep I think you are right because I hear of US citizens who retire abroad, but come back to the US to use Medicare sometimes. So the situation is you have to be paying your Medicare premiums and be in the USA. FYI if you defer Medicare when you become eligible the premiums you will pay if you ever want to start it increase by 10% a year. This has been a nasty surprise for some US citizens who retire abroad and don't pay medicare premiums. If they come back when they become chronically or seriously ill their premiums can be twice what the expect.

Yep I think you are right because I hear of US citizens who retire abroad, but come back to the US to use Medicare sometimes. So the situation is you have to be paying your Medicare premiums and be in the USA. FYI if you defer Medicare when you become eligible the premiums you will pay if you ever want to start it increase by 10% a year. This has been a nasty surprise for some US citizens who retire abroad and don't pay medicare premiums. If they come back when they become chronically or seriously ill their premiums can be twice what the expect.

Yes .. we plan to pay Medicare Part B premiums from age 65 for that reason, to avoid the 10% per annum penalty, on the offchance that we may return to the US to live, and to have the possibility of travelling to the US for medical treatment.  (That is, if we actually move to the UK.  So many "ifs"!!)

If you're thinking also of Medigap, you might also want to check out the relationship between medicare B and medigap. There are a lot of traps for the unwary there, one of which is that you have a limited time to sign up for medigap after you sign up for medicare B or  you face various kinds of restrictions about  pre-existing conditions, medications, etc. - each state is different.