Doping of colloidal nanocrystals offers versatile ways to improve their optoelectronic properties, with potential applications in photocatalysis and photovoltaics. However, the precise role of dopants on the interfacial charge transfer properties of nanocrystals remains poorly understood. Here, we use a Cu-doped InP@ZnSe quantum dot as a model system to investigate the dopant effects on both the intrinsic photophysics and their interfacial charge transfer by combining time-resolved transient absorption and photoluminescent spectroscopic methods. Our results revealed that the Cu dopant can cause the generation of the self-trapped exciton, which prolongs the exciton lifetime from 48.3 ± 1.7 to 369.0 ± 4.3 ns, facilitating efficient charge separation to slow electron and hole acceptors. However, hole localization into the Cu site alters their energetic levels, slowing hole transfer and accelerating charge recombination loss. This double-edged sword role of dopants in charge transfer properties is important in the future design of nanocrystals for their optoelectronic and photocatalytic applications.