The photophysical properties of Cu-deficient Cu01.2In1Sx quantum dots synthesized through a facile aqueous-based procedure have been investigated. Transient absorption experiments were carried out probing in the UV-vis, near-IR, and mid-IR regions, with the aim to (i) study the photophysical properties of the quantum dots and (ii) monitor kinetics of electron transfer to a molecular catalyst. When pumping subbandgap transitions, negative (bleach) signals were observed that were spectrally and kinetically distinct from those observed with bandgap pump wavelengths. Herein, these distinct contributions are suggested to result from the overlapping bleaching of state filling electrons and trapped holes. Such an interpretation highlights the importance of considering the hole-contributions to the bleach for the proper determination of carrier kinetics in similar systems. A model complex of the [Fe-2]-hydrogenase active site was introduced to explore the potential of the quantum dots as photosensitizers for molecular catalysts. The quantum dot photoluminescence was quenched upon catalyst addition, and direct evidence of the singly reduced catalyst was found by transient absorption in the UV-vis and mid-IR. The catalyst accepted reducing equivalents on a subpicosecond time scale upon photoexcitation of the quantum dots, despite no covalent linking chemistry being applied. This implies that charge transfer is not limited by diffusion rates, thus confirming the presence of spontaneous quantum dot and catalyst self-assembly.