It topped the list of most complained about advertisements in 2015, the Advertising Standards Authority has revealed.
The advert shows the outrageously dressed balding man, named Dave, strutting down the street to the song Don’t Cha by The Pussycat Dolls.
He gets odd looks from passersby before he comes across Sharon Osbourne, when he provocatively pushes his bottom in the air – known as twerking – before striding off as the former X Factor judge says: “Dave, darling, you’re so Money Supermarket.”
Some 1,513 complaints that the ad was offensive were filed, with many viewers citing the “overtly sexual” content.
Of the Top 10 most complained about ads only number 10 was banned by the ASA.
Top with 1,513 complaints – more than double the number received for the second most criticised ad – was MoneySuperMarket.com’s internet and television advert.
Three adverts from booking.com, involving a play on words where the word “booking” was seen to be used in the place of a swear word, were the second, fourth and seventh most complained about ads.
Online payment website PayPal claimed third place with its portrayal of two children concerned that their parents had not been shopping for Christmas presents.
Nearly 500 people expressed fears that “the ad revealed the truth about Father Christmas” and despite the complaints not being upheld, PayPal decided to change its scheduling of the advert.
A controversial Protein World poster promoting weight loss was the fifth most complained about ad, drawing 380 complaints.
Some of the posters, which asked “Are you beach body ready?”, were scrawled over by angry commuters.
The banned Omega Pharma TV and online advert showed two women texting each other about using the aid to get ready for the holidays.
The ASA said it presented “an irresponsible approach to body image and confidence”.